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Spain’s crippling unemployment may be on the up

PUBLISHED: August 11, 2014 at 10:00 am  •  LAST EDITED: August 8, 2014 at 10:18 am
Business & Finance, Features, National News  •  3 Comments


Spain’s crippling unemployment may be on the up

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UNEMPLOYMENT in Spain has fallen below 25% for the first time in two years.

The economy is signalling a revival after an extra 402,000 people secured work in the second quarter of this year.

A seasonal boost in the tourist sector has been flagged as the main reason, which helped to push the official jobless rate down to 24.5%, from 25.9%, in the first three months of the year.

“These figures are much better than expected and, while there’s an important seasonal element, seasonally-adjusted figures are also strong,” said Jose Luis Martinez, an economist at Citi in Madrid.

Before the crisis, unemployment in Spain was just 7%, but this rose dramatically to nearly 27% as a result of the recession.

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Reader Comments »



stefanjo

August 11th, 2014 2:32 pm

And when the tourists go home, what then?

angie

August 11th, 2014 3:14 pm

Tourist season sees employment rise every year, however you cannot trust any figures coming out of the Spanish Gov’t and so called Spanish experts. Also, 51,000 young Spaniards moved to the UK last year looking for ‘WORK’, many more fled to other countries looking for work, many South Americans in Spain went back home, many Spaniards work in the black economy, all of which gives a false picture of Spanish unemployment figures. Many Brits left Spain last year including those on Spanish benefits too.

Fred

August 13th, 2014 10:37 am

This headline makes no sense. If unemployment is on the up, then why are the OP saying levels have fallen under 25% for the first time in 2 years? What they mean is that employment is on the up? Hmm.




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