2 Jan, 2014 @ 10:35
1 min read

Economy minister predicts Spanish job bonanza


SPAIN’S job market will expand significantly this year, according to economy minister Luis de Guindos.

The forecast follows the prime minister’s end of year speech during which he said 2014 would be the year of economic recovery.

De Guindos said: “In 2014, the projections we have at the Economy Ministry point to a net creation of jobs, even above what we forecast when we drew up the state budget.”

Spain emerged from a protracted recession in the third quarter of 2013 when GDP grew 0.1%, but , unemployment remains at 26%.

De Guindos argued that the labor reform introduced in February 2012 would invigorate the job market. The reforms made it cheaper and easier to sack workers but also provide more incentives for companies to take people on part-time.

The government is predicting GDP growth for this year of 0.7%, although some believe that target is modest and that the pace of growth will gradually pick up as the year progresses.

Claire Wilson

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  1. The number of people registered as unemployed fell by 107,570 this December (according to Spain’s Labour Ministry) – apparently the best drop on record for the month.

    some good news?…

  2. Spain’s economy starting to boom according to Markit and BusinessInsider. Let’s hope this gets translated into more jobs. A bit amiss for the OP to use “job bonanza” in the title though, as the Spanish minister didn’t say that, only that more jobs would be created than they thought last year, which wasn’t a huge figure they had in mind.

  3. More than 1 in 4 in Spain are jobless, double the EU average and in Andalucia it is worse still. You’d hope they were planning on making a ‘significant’ dent in this embarrassing figure…

  4. It’s good that shop sales are now rising, exports are doing well, and tourist numbers are again up this year. But I suspect any fall in unemployment figures (coupled with a rise in those employed) will be slow for a while. There needs to be a cut in taxes, and an easing of restrictive laws. I know folk who are earning very good money by renting out their flats/rooms via Airbnb etc. But this is done by necesity without telling the authorities; I wouldn’t like to be in their boots when Hacienda catches them out!

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