Spanish Jobless Claims Rise Again
02 March 2011 @ 13:21
MADRID—Spanish jobless claims continued to rise in February, data from the labor ministry showed Wednesday, providing new evidence that Spain's weak economic recovery still isn't creating many new jobs.
Jobless claims rose by 1.6% to 4.3 million in February from January, the ministry said in a statement. In annual terms, February claims were up by 4.1%.
"This is negative data," Deputy Labor Minister Mari Luz Rodriguez said in the statement. "But the February increase was lower than that seen in the two previous years."
Spain is suffering from the collapse of a decade-long housing boom that pushed the country into recession, sent unemployment spiraling and punched a large hole in public-sector accounts. The economy returned to weak economic growth last year but other sectors haven't yet been able to pick up the slack from the ailing construction industry. The government pushed through a sweeping overhaul of rigid labor laws to boost employment but doesn't expect it to have a short-term impact.
In a note to investors, Citigroup economists Jurgen Michels and Giada Giani said the Spanish labor market has yet to bottom out. "Although job cuts are not proceeding at the same fast pace as in 2008 and 2009, we think we are still far from seeing job creation," they said.
The labor ministry didn't give an unemployment rate. Data Tuesday from the European Union's Eurostat statistics agency showed Spanish unemployment stood at 20% in January, more than twice the 9.9% average rate for 17 countries that use the euro.
Source: Wall street Journal
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Text said:
02 March 2011 @ 18:12
Labour for physically building houses/apartments in the Spanish “housing boom” was largely supplied by immigrants from South America, Morocco and eastern Europe.
Employment “opportunities” for the indigenous Spanish came from ancillary services such as architects, lawyers, town hall planning departments, Inmobiliarios and suppliers of building materials who all made a real mess of things!
Please correct me if I am wrong.
Now the question must be asked”How many of the unemployed are actually employable?”
Sitting in a café in Victoria Station yesterday I asked the young Spanish waitress how she enjoyed working in London.
“It’s hard work but I really enjoy it “she said “I’m from Cordoba and could not speak a word of English when I arrived a year ago. Now I have friends from all over Europe who have all found work, we all speak English and I am about to be promoted to managing another café in the same chain. At present I have no plans to return to Spain, accept to visit my family.”
There is hope yet – but not much in Spain!
Christopher Gamble said:
02 March 2011 @ 20:43
And still there is no meaningful New Business start up support in Spain. The whole system is overdue for reform. What's needed is an easy start system to allow new bsiuseness starup without the UPFRONT taxes that are killing entreprenuers and driving new business undeground into the Black Economy. CADE is a lip service...try gettimng a grant or even someone to answer your calls. they can oiffer cionsultancy if yoi pay for it!!!!! but still they opening lioke wild fire. another expensive quango with no teeth.....anyone enjoyed any success?
Rob said:
03 March 2011 @ 00:37
A business in Spain, you must be mad !
The beauracracy, the start up costs, even for self employed let alone companies are daunting. For would be business people the system in Spain is set up to knock the entreprenurial spirit out of you before you even start.
Dealing with the utlities companies will be like dealing with the Post Office back in the seventies.Telefonica is the most frustrating company I have ever dealt with, Iberdrola Electricity who along with the local town hall have the most rudest ignorant people I have ever had to deal with and then there is the Correos.
If you need to post something and expect to arrive at it's destination don't use the Spanish postal system. They are nothing short of bloody useless. These companies have no concept of what customer service is and the more frustrated you get with the longer you will wait.
I wouldn't recommend anyone to start a legitimate business in Spain, not unless you have endless patience, time and money to keep you going.
You can't trust Lawyers, most of them I was reliably informed finish thier education and never keep ahead of the game afterwards. They are happy for the length of thier careers to give you outdated advice and charge you for it.
And everywhere you go there is that whiff of corruption. Spain is corrupt to the core and they should be thrown out of the EEC until they clean thier act up.
Spain is trying to be a first world country but it's run on third world corrupt mentality.
It's pity because it's such a beautiful country with enormous potential but the Spanish lack the acumen to see it.
Franco has a lot to answer for.
Rant over.
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