This article talks about the record high unemployment level in Spain. The unemployment levels have reached a record high of 27.2%. Which accounts for more than six million people without jobs. This clearly shows the difficulties the Spanish economy is facing to try and over come the recent economic Crisis which hit the euro zone. It is the fourth largest economy in the euro zone and these figures which were released are wore than what was expected.
The prime minister is expected to present fiscal policy and other measures to tackle the recession and try bringing it to a halt. He also said that the Spanish economy would start growing from 2014 and has also assured that jobs would be created in this process.
http://www.bbc.co.uk/news/business-22290422
The prime minister is expected to present fiscal policy and other measures to tackle the recession and try bringing it to a halt. He also said that the Spanish economy would start growing from 2014 and has also assured that jobs would be created in this process.
http://www.bbc.co.uk/news/business-22290422
This level of unemployment is astounding and is at a level that we cannot even imagine having in the U.S. economy today. Hopefully the Spanish economy will recover soon, as the prime minister says it will, and the unemployment rate will recover. It seems that the situation can only improve at this point.
ReplyDeleteThis level of unemployment is very dangerous and needs to be addressed with expansionary fiscal and monetary policies in the near future. If not, Spain's GDP will continue to decline and unemployment will likely not improve. Spain needs to find a way to increase consumption which will hopefully spark a decrease in unemployment.
ReplyDeleteSpain has been having a lot of difficulties over the past couple of years. The unemployment rate is a scary number to see and hopefully the prime minister can get the country back on track. It will be interesting to see what the Spanish government does to try and halt the worsening recession.
ReplyDeletethe unemployment rate of 27.2% is really high even as we speak. The Spain government is going to have to do some serious work to bring the country out of this mess. Maybe they would have to increase government spending to provide more job training, in hopes that it will bring the unemployment rate down.
ReplyDeleteI totally agree. With such a high unemployment rate, Spain really has to do a good job to take the country to a better position
ReplyDeleteThis is crazy. Seeing an unemployment that high should make us thankful for what we have although we are struggling as well. I can only imagine what America would be doing if we saw an unemployment that high....
ReplyDeleteWithout significant bailout funds by the EU, IMF and other countries it would be a very slow and difficult recovery, if at all. In any case, an expansionary policy is required in order to start growth and decrease unemployment.
ReplyDelete