Spanish Unemployment Rate Reaches Record 27.2 Percent

[News_Editor]

MADRID, SPAIN (BNO NEWS) -- The jobless rate in one of the euro zone's biggest economies reached a record high of 27 percent during the first quarter of this year as more than 6.2 million Spaniards were looking for work, according to new figures released by the country's National Institute of Statistics (INE) on Thursday.

INE said the number of people who are unemployed and looking for work increased by 237,400 during the first quarter, raising the overall number to 6,202,700. This lifts the national unemployment rate to 27.16 percent, an increase of 1.14 percent when compared to the fourth quarter of 2012.

The increase in unemployment spans nearly all regions of Spain, but the greatest increase when compared to the fourth quarter was seen in the autonomous community of Andalucia where an additional 31,100 people were forced to join the hunt for a job. Large increases were also seen in Comunitat Valenciana and Illes Balears, where unemployment figures increased by 27,400 and 24,900 people respectively.

Over the past 12 months, the total figure of unemployed persons - defined as persons aged 16 and over who are actively looking for a job - increased by 563,200. But when comparing the first quarter of this year to the same period last year, the quarterly increase in unemployment was slightly lower, according to the figures.

Spain, the euro zone's fourth biggest economy, now holds the highest unemployment rate in the region. The unemployment rate in the euro area reached a record high of 12 percent in January and remained stable in February, but the jobless rate in the wider 27-nation EU region rose to 10.9 percent in February.
(Copyright 2013 by BNO News B.V. All rights reserved. Info: [email protected].)

[ExpatOilWorker]

Gosh, it is getting worse fast in Espania.

Just ask Tee Jermens for a check.

[Publicus]

The unemployment rate has exceeded 20% for a good number of months now.

Certainly, 27% is a Depression.

[Thai at Heart]

And yet they still hang in the euro, for who's benefit God knows. The Spanish people?

Surely not

[Sing_Sling]

And yet they still hang in the euro, for who's benefit God knows. The Spanish people?

Surely not

So, you're saying the EU is at fault for their misery or is it the Euro?

Neither the EU nor the Euro did anything to benefit Spain or the Spanish people?

I'd be interested in more info, thanks

[maidu]

I know a hill tribe gal who wound up leaving her Spanish husband, because he was chronically unemployed. They were a cute young couple, both in their 20's, but just couldn't make it work in Barcelona.

[F430murci]

Good articles to provide some perspective on countries entry into Euro and why some countries made serious misrepresentations about their economic and debt structure to meet Euro criteria. Greece was the worst regarding economic misrepresentations to enter Euro in hopes the Euro could bail out a frail and sinking economy. Spain a close second.

http://www.nytimes.com/2002/07/11/business/worldbusiness/11iht-a10_18.html?pagewanted=1

http://www.bde.es/f/webbde/Secciones/Publicaciones/OtrasPublicaciones/Fich/Spain_and_the_euro.pdf

[Publicus]

CNBC reported sometime last year that the Greek government owned and operated passenger train system earns a typical annual profit of 100,000 Euros but pays out 300,000 Euros in salaries alone. It would seem every politician and his family, relatives, cronies get nice fat jobs with the state rail system, among other state corporations. Given those figures, I don't see how anyone can say the system makes a profit, but the Greek government says it is a profitable system.

I haven't heard or seen any such outrageous data about Spain, but I'd bet it's not very different.

I wonder how many of the southern Europeans in particular remember what it's like to work for a living, to have a real job, and to have a real economy.

[Scott]

Off-topic post deleted.

[Sing_Sling]

CNBC reported sometime last year that the Greek government owned and operated passenger train system earns a typical annual profit of 100,000 Euros but pays out 300,000 Euros in salaries alone. It would seem every politician and his family, relatives, cronies get nice fat jobs with the state rail system, among other state corporations. Given those figures, I don't see how anyone can say the system makes a profit, but the Greek government says it is a profitable system.

I haven't heard or seen any such outrageous data about Spain, but I'd bet it's not very different.

I wonder how many of the southern Europeans in particular remember what it's like to work for a living, to have a real job, and to have a real economy.

It seems they lie, cheat and steal and when they are caught out become all outraged by *edited out* Germany and how they have been exploited by those nasty banks and northern Europeans.

Greece was nothing but a sleepy holiday destination until they joined the EU . . . money rolled in to develop the place (and provide shoulder-hair-removal for the females) and all of a sudden it is more expensive to manufacture something there than in Germany or Holland . . .

I really believe Greece should be dumped from the EU (it would save on translators and Greek language on documents and coins.

Edited April 28, 2013 by Scott
Inflammatory term removed

[Publicus]

CNBC reported sometime last year that the Greek government owned and operated passenger train system earns a typical annual profit of 100,000 Euros but pays out 300,000 Euros in salaries alone. It would seem every politician and his family, relatives, cronies get nice fat jobs with the state rail system, among other state corporations. Given those figures, I don't see how anyone can say the system makes a profit, but the Greek government says it is a profitable system.

I haven't heard or seen any such outrageous data about Spain, but I'd bet it's not very different.

I wonder how many of the southern Europeans in particular remember what it's like to work for a living, to have a real job, and to have a real economy.

It seems they lie, cheat and steal and when they are caught out become all outraged by *edited out* Germany and how they have been exploited by those nasty banks and northern Europeans.

Greece was nothing but a sleepy holiday destination until they joined the EU . . . money rolled in to develop the place (and provide shoulder-hair-removal for the females) and all of a sudden it is more expensive to manufacture something there than in Germany or Holland . . .

I really believe Greece should be dumped from the EU (it would save on translators and Greek language on documents and coins.

Talk about a sense of entitlement, and we see it in those particular Euro Zone countries. I recall that Greece was the latecomer to qualify to join the EMU - if it ever was really qualified - so there were problems there from the outset.

However, I don't think Greece should be singled out for expulsion from the EMU as there are other countries that would deserve the same treatment, which means the Euro Zone would be shrinking instead of growing or, critically right now, holding steady.

I'd like to see the EMU succeed but I'm not confident any more that it can survive, must less grow and thrive. Unfortunately, we do see it's too soon for the Europeans to think as Europeans outside of alliances for war, historically speaking. That's still a heavy history over there but still seems not a good enough motivator.

And I know I'm uncomfortable about the Germans dominating Europe, this time successfully, via the EMU. During the 1980s into the 90s Helmut Kohl played Francois Mitterand like a fiddle, so now all France can do is to react, however weakly, to Berlin's orders to the ECB.

I need to correct the figures I made in a previous post. I'd meant to say the Greek state passenger rail system says it typically is in the black by 100 million Euros annually, and after that pays 300 million Euros in salaries alone. To me that's 200 million in the red. But the Greeks say that's being in the black. I doubt even Warren Buffet could break that kind of thinking.

Edited April 28, 2013 by Publicus

[Sing_Sling]

CNBC reported sometime last year that the Greek government owned and operated passenger train system earns a typical annual profit of 100,000 Euros but pays out 300,000 Euros in salaries alone. It would seem every politician and his family, relatives, cronies get nice fat jobs with the state rail system, among other state corporations. Given those figures, I don't see how anyone can say the system makes a profit, but the Greek government says it is a profitable system.

I haven't heard or seen any such outrageous data about Spain, but I'd bet it's not very different.

I wonder how many of the southern Europeans in particular remember what it's like to work for a living, to have a real job, and to have a real economy.

It seems they lie, cheat and steal and when they are caught out become all outraged by *edited out* Germany and how they have been exploited by those nasty banks and northern Europeans.

Greece was nothing but a sleepy holiday destination until they joined the EU . . . money rolled in to develop the place (and provide shoulder-hair-removal for the females) and all of a sudden it is more expensive to manufacture something there than in Germany or Holland . . .

I really believe Greece should be dumped from the EU (it would save on translators and Greek language on documents and coins.

Talk about a sense of entitlement, and we see it in those particular Euro Zone countries. I recall that Greece was the latecomer to qualify to join the EMU - if it ever was really qualified - so there were problems there from the outset.

However, I don't think Greece should be singled out for expulsion from the EMU as there are other countries that would deserve the same treatment, which means the Euro Zone would be shrinking instead of growing or, critically right now, holding steady.

I'd like to see the EMU succeed but I'm not confident any more that it can survive, must less grow and thrive. Unfortunately, we do see it's too soon for the Europeans to think as Europeans outside of alliances for war, historically speaking. That's still a heavy history over there but still seems not a good enough motivator.

And I know I'm uncomfortable about the Germans dominating Europe, this time successfully, via the EMU. During the 1980s into the 90s Helmut Kohl played Francois Mitterand like a fiddle, so now all France can do is to react, however weakly, to Berlin's orders to the ECB.

I need to correct the figures I made in a previous post. I'd meant to say the Greek state passenger rail system says it typically is in the black by 100 million Euros annually, and after that pays 300 million Euros in salaries alone. To me that's 200 million in the red. But the Greeks say that's being in the black. I doubt even Warren Buffet could break that kind of thinking.

I have absolutely no problems with Germany taking the helm of Europe - they will not be engaged in another war and looking at history doesn't do the development of the last 70 years justice. Germany has neither the legal nor the actual military power to cause any distress and anyone who thinks Germans want to lead or conquer doesn't know them/hasn't lived/worked there. (I have done both - am bilingual in Kraut and Aussie due to my father having been posted to Bonn a few decades ago and working there in the 90s)

Germany is one of the most liberal and democratic countries in Europe, has the economic power and skill to rise above the crap that pretty much everyone in the Latin/Catholic countries creates, and is a real European player - a real team player . . . and they should have majority say . . . as they majority pay (tried a rhyme there).

Some countries are definitely 'better' Europeans than others, the Belgians, Dutch, Germans, French etc . . . and some aren't.

France needs to be lead/dominated. (Even id my primary reason being my first wife . . . French)

[Publicus]

La femme fatale, your first wife. Sounds like your friends should have bound you to the mast on that one. I think of my first marriage as a sort of rehearsal, or like going to wrestling or boxing practice every day. Mine was Anglo-Saxon except she liked to live like a Greek.

I see the 27% unemployment rate in Spain is sending job seekers to Germany, which is okay unless it gets to be a flood of desperados. And it seems things for Spain are looking up anyway, as the rate is expected to drop next year to 26.8%. . But that would be an important utilitarian aspect of the EU and of the EMU, i.e., mobility, even if it might be to move sideways .