Spain's jobless passes five million. What next?
27 January 2012 @ 16:49
I was reading this article on the BBC news website today and wondering how Spain can possibly sustain an ever increasing number of unemployed people in the country.
The figure now stands at 5.3 million unemployed, representing a difficult-to-believe, 22.8% of the population.
And it gets worse if you're young. If you're fortunate to be between 16 - 24 then you'll be unfortunate in being 48.6% likely to be unemployed.
These are shocking statistics.
If nearly a quarter of the population aren't working and half the young people aren't either, and the jobless rate keeps increasing, I can't see this getting any better for years to come. The problem appears to be too big with no obvious or immediate solution.
With so many people out of work it means they have less money to spend, which means more businesses will start to struggle, which means that more people will be heading towards the (un)employment office.
It also means that the government will be earning less money in taxes and shelling out even more money to cover the spiraling jobless rate.
I'd love to be more positive about things but realistically it does seem that things have to get worse still before they get better.
And anyone reading this hoping to move to Spain and get a job here....I don't think I need to say anything further.
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