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24 Nov, 2017 @ 13:10
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1 min read

CRITICAL: Spain’s income inequality one of the worst in EU as 40% of young still unemployed

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SPAIN’S income inequality is one of the worst in the EU. 
A new report by the European Commission found that while the economy is improving, the divide between the haves and have nots is only increasing, with young people looking to be hit the hardest.

Along with Greece, Bulgaria and Lithuania, Spain faces a ‘critical situation in terms of income inequality’, according to the draft 2018 Joint Employment Report, which uses data from 2016 and early 2017.

The wealthiest 20% of households in the country received an income share 6.5 times that of the poorest 20%, compared to an average of 5.1 times across the union.

Unemployment ranges across the EU, from 3.1% in the Czech Republic to 17.3% in Spain and 21.6% in Greece.

JOBLESS: Spain’s young hit hard by unemployment

But Spain is still suffering from chronic youth unemployment, sitting at 40%, compared to an EU average of 18.7%.

Meanwhile, more than 70% of young workers in the country are working under a temporary contract (compared to only 13.1% for workers aged 25-49).

Spain’s youth situation has been described as ‘critical’ because almost 20% of young Spaniards leave school early, compared to the EU average of 10.7%.

Spain was praised for having a quicker-than-average drop in the unemployment rate and shortening of the gender pay gap.

But the share of people at risk of poverty or social exclusion is significantly higher than the EU average.
The report concluded that Spain’s long term unemployment, which sits at 9.5%, is a challenge that ‘still appears to be pressing in Spain’, while its 17.3% unemployment rate was ultimately one of the worst in the union.

 

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Laurence Dollimore

Laurence Dollimore is a Spanish-speaking, NCTJ-trained journalist with almost a decade’s worth of experience.
The London native has a BA in International Relations from the University of Leeds and and an MA in the same subject from Queen Mary University London.
He earned his gold star diploma in multimedia journalism at the prestigious News Associates in London in 2016, before immediately joining the Olive Press at their offices on the Costa del Sol.
After a five-year stint, Laurence returned to the UK to work as a senior reporter at the Mail Online, where he remained for two years before coming back to the Olive Press as Digital Editor in 2023.
He continues to work for the biggest newspapers in the UK, who hire him to investigate and report on stories in Spain.
These include the Daily Mail, Telegraph, Mail Online, Mail on Sunday and The Sun and Sun Online.
He has broken world exclusives on everything from the Madeleine McCann case to the anti-tourism movement in Tenerife.

GOT A STORY? Contact newsdesk@theolivepress.es or call +34 951 273 575 Twitter: @olivepress

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