Think our unemployment is bad? Try finding work in Spain!

Now this is a story to show that no matter how bad you may think things are, it can always get worse. Oh, goodness. It sure can get worse.

MADRID (Reuters) - Spain's unemployment rate rose to a new record of 27.2 percent in the first quarter of this year, with 6.2 million people out of work, data from the National Statistics Institute showed on Thursday.

Source

The original source is Reuters and they didn't make much of a story, but then....how much is there to say about an announcement like that?

U.S. Great Depression Rates for Unemployment

There are just some things that don't leave much for words, I think. The worst of the Great Depression was seen in 1933 and just under 25%. It's certainly with nothing but sad feelings I consider the state of things over there. After all, there but for the grace, go we .....and grace is wearing real thin it seems.

This proves that austerity measures don't work. We have given more power to employers, that are reaping all the benefits, while destroying employment instead of creating it. The rich are richer and the poor are broke. That is capitalism in its finest expression


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We just landed a job there so it's not all doom and gloom.

I also imagine a large percentage of that 27% are working under the table, still it's not great for them.

reply to post by Jooles


Agree, but borrowing money to spend in empty projects is not the way out, in fact no one will loan money to someone that is bad at administering spending. So you have to cut on no return projects, attempting to preserve social infrastructure, reform society and join a coalition to change the world's economic system once and for all. That or revolution, seizures of fortunes and forced nationalizations is the only way to fund the needed reforms and basic services, putting the nation in a dire situation for decades, rinsing and repeating the boom and crash cycle once again if nothing changes internationally.

reply to post by Jooles


It is not Capitalism. Capitalism died decades ago throughout the entire world.

What we have now is Corporatism. Corporations rule the world. Corporatism is the wolf, hiding in sheep costumes, hiding and trying to make itself seen as Capitalism.

See the world for what it is. Throw out what you were taught, it was taught to the current generation by Corporations.

Even here on ATS people still go nuts about politics. Politics is a dog and pony show run by Corporations to keep the limelight away from themselves. They do not want the sheep to see reality.

P

Meanwhile, we have Mr Rajoy going on TV here saying that he's fixed the crisis and that everything's dandy. Spain's a beautiful country, but we have one of the most corrupt governments on the planet. An average of 1-2 politicians every week get busted for fraud, taking kickbacks etc. I can see another civil war on the horizon........

There's more than just empty projects going around here, the banks are just not willing to lend any money at all. Remember that one of the biggest banks in our country had to be bailed out, at the costof our public money. Money that we could use to avoid the privatization of our health.system, to avoid the decadence of our education system, to bail out people losing their homes for.defaulting on their mortgages. Instead, our government chose to bail out the banks, that sit everyday on more and more empty flats.due to eviction. People start to starve, and banks manage to keep their profits up, as reported just today by Banco Santander. We don't need.a violent revolution, but a profound change in the.system, where people come first. It seems that our politicians only care about how much cash they can steal, and how many tax millions they can help corporations to evade off-shore.


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Keep an eye on the news today, as protesters in Madrid will attempt to surround Congress. Things might get nasty as people become desperate.


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I live in what has/is being deemed an economically strong and stable state. By all appearances, it seems to be -judging by the full parking lots of restaurants and heavy casino traffic, most days. A lot of commercial building and rebuilding too, over the past few years. I by no means am living in a bubble, deluded by normalcy bias. There are many small businesses that have folded. Some not even lasting 6-months.

The handwriting is on the wall for what austerity is to eventually come for most of us peons. Much sooner than later, I'm afraid.

But I did get an eye-opener last week, after posting a craigslist ad for a general labor gig at $10 hr. I got about 2-dozen responses within 2-hours and had to remove the listing. The responses really ran the gamut....and I finally went with my gut feeling, hiring a family man who said he'd work for less money just so he'd have gas money to start a new job with. I had no intention of paying him what he proffered, providing he wasn't a slacker. He obviously needed a hand-up. I gave him the chance to prove himself, and he came through with flying colors. He would've been forced to walk 5-miles had I not hired him, which may not have looked very good through a new employer's eyes! A win-win.

reply to post by Wrabbit2000


Spain and Greece could eventually be the 21st century versions of depression era Germany and Italy.

Let's hope not, though.

Spending needs not be those that build roads that go nowhere as Japan did back in the 90s.

GROWTH means to stimulate the economy through govt directed effects upon manufacturing, services and financial services to ehance the circulation of weath which is hoarded up now by the rich and elites. If done wisely, wealth will be circulated and funds need not and should not be used for white elephants - looks good but does nothing and gives no returns.

Austerity is a belt tigtening measure which in the long run, will achieve what growth does as it massively and drastically cuts down wastes and corruption, forces ALL to live within their means, etc. Problem is - can the citizens survive 'the long run' to rebuild the economy?

Spain and the rest of EU thinks so. So be it. Each pays the price for their decisions.

What can and should be done NOW is to alleviate the sufferings of unemployment faced by 27% of the population.

------Redistribution of Talents and Skilled Labour to 3rd World Nations ---------

As EU can only offer 70% of its population for employment, measures must be taken by the authorities to take care of the unemployed, not by charity but by finding them work. It is sad that a citizen cannot find work in his own country, thanks to the corruption and greed of the elites, but no point crying over spilt milk.

The young, the talented and the skilled who are unemployed now must be prepared to go overseas for jobs, or rot in EU now. And the govts must form up employment agencies to seek for jobs not only within EU, but the rest of the world, through economic developement councils, espacially in third world nations' MNC and growing companies which lacked the advanced skillsets and tech to progress.

Third world nations such as Laos, Burma and Africa have the resources and the wealth, but lacking in management and tech knowhow to progress. Their best and brightest is grabbed into govt agencies, leaving the rest to the private sectors.

I am by no means disparaging against them, for I believe that they can and ARE as intelligent as anyone from the West. The only problem there is corruption and nepotism that had stifled the OPPORTUNITIES of many to rise up, except for the well connected kids.

This is not some White Man Superiority dig. None can deny the west had lead the world in tech, management and sciences. Even China which are nationalists, still depend on the West for its growth, either honestly or by stealing it. Some nationalists in other nations will claim to xenophobia, but the truth is, such claims were only meant to keep their fellow citizens stupid and ignorant, while those leaders send their children to the west to gain knowledge.

There is no need for MNCs or promising companies in the 3rd world to hire ALL their own people, or hire ALL citizens only. A qouta of 30% foreign labour vs 70% local labour would satisfy all, gives the 3rd world nation citizens the opportunity to learn from the best and skilled talents from the west and grow.

At the same time, wealthy companies in 3rd world nations be encouraged to set up shop in EU, in manufacturing and services, NOT property or any other forms of gambling. With the same labour terms, it will give them the opportunities to learn and grow as well, to see how innovation and quality can upgrade and uplift lives.

This exchange is temporary only and not permanent, unless the desire is there. It will take est 15 years for the 3rd world nations to catch up, and at the same time, est 15 years for EU to stabalise with its austerity measures. By then, citizens can return to their homelands.

Many things can happen during the 15years period, which no mortal can predict. 5 years ago, there was no Ipad. Perhaps we would have nuke each other off existance, OR, we may well have advanced into colonizing the stars by then.

There must and will be hope. There will be choices, if the national will - both govt and People;s, are there. Would a guy prefer to see his ex-classmate who had the same score with in school, walking into the restaurant with a wife and 2 kids on tow, got a job because he was the lucky few in the country, WHILE that guy is behind the counter flippin burgers, or worse, begging for food, OR seek overseas for opportunities to work,learn and grow, and return back to EU a better man with a better life?

There is no need to sink in despair, nor must one ever go down that route. There is still hope. The world had not ended. There is still balance in the world. Where one part of the world is mired, the other part still does progress.

Good luck.

Originally posted by Jooles
This proves that austerity measures don't work. We have given more power to employers, that are reaping all the benefits, while destroying employment instead of creating it. The rich are richer and the poor are broke. That is capitalism in its finest expression

The problem with socialism is eventually you run out of other peoples' money.

When countries are broke, they say austerity because it sounds like it's planned. When you hear austerity, it simply means they ran out of money. If you have money and you're smart, you need to leave a broke country, because they're going to rob you of your money and find some excuse to make stealing legal.

reply to post by Wrabbit2000


Unemployment and War go hand in hand.

Germany's unemployment rate was at 30.1% before WW2, and Americas was at 24.9%. Not to say Spain is the next Country to start hammering the Fascist war drum, but when economies falter, Some sort of War/Civil unrest usually follows.

Unemployment rate 27.2% and still mass immigration continues apace.

It's killing Spain.

It, like Britain, needs to escape this corporatist horror fest called the EU before our countries - and finally Europe - implode.

reply to post by sonnny1

I think you hit on the scariest thing about the current times and what sets it apart from anything in the last 50-60 years, world wide. We're reaching...if not already reached the point where a number of nations have less to lose by going to war for the benefit that brings than remaining in the status quo for the certain doom THAT brings.

When economics say there is a brick wall ahead and we're moving toward it at high speed? There is nothing lost by transforming the little pinto into a main battle tank and firing a few rounds at the wall on the way, eh?

Of course, I think the public of the nations in question would have a few words to say about that whole idea ...but who asks or cares what the public thinks anymore? No leaders I see do.

Originally posted by CJCrawley
Unemployment rate 27.2% and still mass immigration continues apace.

It's killing Spain.

It, like Britain, needs to escape this corporatist horror fest called the EU before our countries - and finally Europe - implode.

I live in Spain since 15 years ago.

This year is the first in 13 that the immigration numbers have actually LOWERED..
Spaniards are leaving in droves to find work in Germany, some are even going to Ecuador to work as teachers and medics, which is ironic, as millions of Ecuatorians have emigrated to Spain in the last 10 years and now they're going home because the economy at home is now better.

Inverse immigration !!

The only ones that are staying are the chinese and the Italians...

reply to post by andy1972

You know the sad thing? When they aren't pimping for numbers on a specific agenda....We've been seeing the same type of stories in the United States for Mexican immigration. No Southbound flood, perhaps ...but definitely some movement back home for lack of work up here. I have to say, reading stories like that hurts more and says more to me as an American than any Government statistic about the economy. When those who came here with hopes and dreams of a better life are telling us to hit the switch if we're the last ones out? It's a baad situation, huh?

Originally posted by Wrabbit2000
reply to post by sonnny1

 

I think you hit on the scariest thing about the current times and what sets it apart from anything in the last 50-60 years, world wide. We're reaching...if not already reached the point where a number of nations have less to lose by going to war for the benefit that brings than remaining in the status quo for the certain doom THAT brings.

I actually agree with this. War is an economic boom for those in Power.

Not sure how Spain is calculating their 27.2 % unemployment. The United States U6 unemployment rate is still above 14% and today the Federal Reserve started talking about increasing economic stimulus again?

Fed meeting

Was it a weak first quarter and they aren't expecting much improvement over the summer? The news I chose to read this spring had been fairly positive here in the states, consistent with an economy growing out of recession. The end of the 1990 recession was marked by the U6 unemployment rate dropping below 12%.

Frankly the bad economic news coming from France, Spain, even the UK is rather shocking in a global economy it seems odd to see that kind of disparity in the economic numbers? Are we missing something?