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Causes And Consequences Of Unemployment In Spain

1489 words - 6 pages

Unemployment has always been considered as a real threat to the economic well-being of the country. In Europe, after World War II, the unemployment rate was very low. Since the seventies of the 20th century, the situation has begun to change and unemployment is rising, reaching its peak point in 1993 year, when the average unemployment rate of European countries was about 11%. Due to global financial crisis, which transformed into sovereign debt crisis in the Eurozone, nowadays, the high unemployment rate in the EU has become an ordinary phenomenon, but a particularly acute problem of unemployment is in Spain, where 26.2% of the population are unemployed (Eurostat, 2013). Although, crisis ...view middle of the document...

This can be explained by the fact, that Spain is a country with highly obliged private sector, where there is a high congestion of industrious resources in the construction sector, since the crisis affected the construction sector, housing boom followed by a housing bust and huge loss of capital occurred, which led to the negative demand shock of the labor market. Generally, tourism is one of the major sources of income in Spain, and the crisis could not affect it. During the crisis, less people visited the Spain, as the income of potential visitors was reduced, and seasonal workers, whose job was related to the tourism, have lost their jobs. In the period from 2008-2009, unemployment rate in Spain increased by about 2% (Eurostat, 2009), which is very high according to European standards.

Besides crisis, there are some other reasons for the high unemployment rate, which are based on the specific features of Spain. One of them is lack of qualification among young professionals. In Spain, in 2011, it was registered that, nearly 43% of young population are jobless (BBVA, 2011). The reasons for that are an inappropriate education system and the attitudes of youngsters towards the study. It is assumed, that many students leave the education system before finishing it - 30.6% of the population between 18 and 24 has not completed higher secondary education (BBVA, 2011). This type of unemployment is classified as structural unemployment. Anderton (2008) claims, that structural unemployment ‘occurs when the demand for labor is less than its supply in an individual labor market in the economy’ (p. 210). In this case, Spanish students are not in demand in the labor market, since they do not have adequate skills and qualification to work at jobs. Another cause is not flexible labor legislation. It is known, that hiring process in Spain is very long and complicated. To apply for the job, employee has to obtain the consent of executive, supreme executive and the Ministry. Dismissal process is also very problematic. These conditions make finding jobs by jobless people very difficult and hard. And the last cause of high unemployment in Spain is probably the mentality of Spanish people. They prefer having a rest, rather than working. Working hours in Spain start from 10:00 and end at 20:00 and they have too many holidays during the year. Also they have ‘siesta’ – particular national feature of the Spaniards, which means a long break between 14:00 and 17:00 during the working day. It is logical to acknowledge, that despite the crisis, Spain had a lot of weaknesses in its government structure in the pre - crisis period and crisis just highlighted them, showing that the current system is not efficient.

From the economic point of view, unemployment always has harmful effect on economy, society and the country as whole. First of all, there is a social effect. It is dangerous for stability in the country. Back in 1980-1990, when unemployment issue in Europe has...

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