Five million people unemployed in Spain

LAST UPDATED: 4 Mar, 2013 @ 16:16
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Five million people unemployed in Spain

THE number of people out of work in Spain has risen to more than 5 million people for the first time.

The government said there was no quick fix, with the economy expected to slump even further this year.

Labour ministry officials say the number of registered unemployment people in Spain surpassed the five-million mark in February.

It said joblessness now affected 5.04 million people, up some 59,000 from the levels recorded in January.

The ministry said many companies across the southern European nation continued to lay off staff because of unfavourable business prospects.

The February figures marked Spain’s highest number of people out of work since the country became a democracy in 1975 after the death of General Francisco Franco.

The fourth-largest economy of the 17-member eurozone logged the largest loss of jobs in the dominant service sector, followed by layoffs in industry and agriculture.

Mariano Rajoy’s conservative government had put in place strict spending cuts and tax rises aimed at saving €150 billion between 2012 and 2014.

The cuts have not proven to be able to kick-start the economy which is expected to contract by 0.5 percent this year, to be followed by an expansion of 1.2 percent in 2014.

 

10 COMMENTS

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  1. Bleeding people dry with tax increases and pension cuts is not a recipe for growth, keep it up and it could become a good recipe for revolution. Across Europe from Britain in the west to Greece in the east politicians have royally screwed things up and as usual it’s the little people who have to pay. Spain seems determined to drive out people who have money to spend with their new draconian world wide assets tax which if you fall foul of can cost you all your assets. Crazy! Loco!

  2. “The February figures marked Spain’s highest number of people out of work since the country became a democracy in 1975”

    Perhaps they can create a new holiday for this momentous occasion? “Dia de Desempleo” perhaps. Austerity rarely works; Spain has to grow out of the recession. Good luck with that, the government is clueless and the people apathetic.

  3. Beyond words – I would like to ask the King of Spain how he allowed this to happen. He is after all the head of State. How could la Moncloa have allowed this to happen to Spain is incomprehensible? The Spanish Brand – damaged. I compare Spain these days to the poverty of Afghanistan – third world standards. It is a bloody disgrace.

  4. ***Aranza***. Whilst your comment that “The Spanish brand is damaged” may well be true, your comparison of Spain to Afghanistan is grossly unfair. Have you actually been there?.

    The entire population (except for the warlords and alleged “prime minister”) live in mud huts living in abject poverty. Education for the lucky few I(but not girls), medicine other than basic as rare as gold, police that no-one trust, Taliban ingrained the very fabric of the nation, assassinations of all who don’t toe the line, downtrodden women treated like garbage … ad infinitum.

    The “damage” you speak of originated decades ago and successive governments have failed to recognise, for various reasons, what was the inevitable. King Juan Carlos may hold more influence than, for example Queen Elizabeth, in any democracy, there has to be a limit.

    5 million unemployed is, as you say “a bloody disgrace”. But I wonder how many of these work in the black economy.

  5. Amparo – Spain needs a reality check. I can not compare Spain to India or China (countries once considered poor) because both countries today have a booming economy with serious GDP growth forecast for the next 5 years. Where does that leave Spain in comparison to other countries to compare but to those of third world standards? Afghanistan’s GDP is just about equal to that of Spain’s GDP. My comments were more in line of unemployment rates and GDP rates than social justice differences.

    For those that live abroad, it is incomprehensible to understand how a government of a country and a head of State being a King could allow a countries’ economy to crash to levels of third world standards.

    Every country has a black economy so no cheap excuses are acceptable when there are 5 million unemployed – it is a bloody disgrace.

  6. “http://en.wikipedia.org/wiki/Agreement_on_German_External_Debts”

    “http://www.guardian.co.uk/commentisfree/2013/feb/27/greece-spain-helped-germany-recover”

    It’s time to seriously consider making a new global agreement to reduce external debts. Top end of Spain transferring and investing in China’s and Morocco’s manufacturing – its repugnant when there is such high unemployment is Spain. To have such high unemployment these days for any country is just pure evilness.

  7. The Spanish government (left or right) is totally out of touch with the job they are suppose to do. But the main culprits are the Spanish people who are allowing this. Here in Andalusia for instance they have voted for 3o years of socialist governments in Seville. For 30 years they have not been doing their jobs instead have only enriched themselves. Politicians with foresight could easily relax rules and regulations to help kick-start the economy. One small example would be to swiftly help the people whose houses got burned out in last years fires in mijas and Ojén. They decide to come op with a whole list of excuses. The economy for sure will get worst and the unemployment will go up and the Spanish people only have themselves to blame. Lets hope Brussels will close the tap when these do nothing politicians come begging for more money.

  8. It is a shame how the Government of Spain are letting their Country disintegrate. So many things they could change but don’t. Franco may have gone in 75 and I don’t know what it was like then but many in power must still act in a similar way. Wait until the UK vote themselves out of the EU, there will be even less money. Other Countries will follow. Try and fix your image first, that will be a start.

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