In Spain, a Soaring Jobless Rate for Young Workers

[TomCADem]

Source: NY Times

In the last 12 months, the jobless rate in the United States among workers ages 16 to 24 has risen to 19.1 percent from 13.9 percent. Economists expect the rate to remain high even as the overall jobless rate in the United States — now 10 percent — begins to shrink.

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But the sharp increase among young people is particularly problematic. It has jumped from 17.5 percent three years ago at the height of the boom to the current 42.9 percent.

At this level, Spain stands out from other troubled European countries. In Greece, for example, the youth unemployment rate is 25 percent, while Ireland’s is 28.4 percent and Italy’s is 26.9 percent.

Spain is even worse off than countries in Eastern European where youth unemployment has traditionally been high. In Slovakia, for example, unemployment among young people is 27.9 percent. In Poland, youth unemployment is 21.2 percent, down from over 35 percent a few years ago.

Read more: http://www.nytimes.com/2010/01/01/business/global/01jobless.html?em

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Interesting story, which gives some perspective on the issue of unemployment when compared to other developed countries.

[Name removed]

1. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Downwinder]

2. The Times does not offer any comparison of medical or unemployment benefits. n/t

[Ian David]

3. No one expect The Spanish Recession! n/t

[SKKY]

4. They have a joke here in Spain...

Q: How do you know Jesus Christ was Spanish?

A: Because he was 33, single, and still lived with his parents.


There are so many cultural aspects to this that exasperate the problem, it's hard to know where to begin. But, the contract structure here is a major problem that keeps wages low, and ensures that very few have any sort of job security.

[TomCADem]

8. ROFL!

That is funny, but wrong, at the same time.

[dipsydoodle]

5. I think this is mainly because

Spain's house building program ground almost to a halt. Their level of tourism is also down. The blame for both issues lies with whoever caused the worldwide collapse with regard to the financial situation and its knock on effect.

[conspirator]

6. Specially this guy will have trouble finding a job:

http://www.youtube.com/watch?v=xJjYd3K4Nuc

[tabasco]

7. Any time there's a thread on Spain,

I'm going to post a picture of Macarena Gomez.

[Lost4words]

10. And I thank you!!

[provis99]

9. odd, considering North African immigrants are flooding into Spain

if the young Spaniards aren't getting jobs, what jobs are the immigrants getting?