Essay On Unemployement In Spain

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Unemployment in Spain The financial crisis of 2007-2008 has affected the whole world in some or the other way at different time periods. Especially the europian countries have seen adverse effects, they have faced huge debts and seen the housing market collapsed. Among all the nations it is spain that has been most adversely affected. The unemployement has staggered and 20%of overall unemployement and 50% of youth unemployement. Issues in labor markets, no systematic benefit system and lack of government spendings in important areas are seen as the major reason for such astronomical figures of unemployement in spain. Added worker effect also works towards more trouble and recession.The statistical data shows that spain has broken unemployement records, in november 2012 spain was going at 26.6% and 55% youth unemployement which accounted for 6 million people in the population. Spain had a booming economy before 2008 crisis but the gains were not parmanent because they were not sound structurally. Spain in the later 90's till 2007 saw a period of spectacular growth, its GDP per capita hadpeaked to 90% of EU-15 average. This GOLDEN DECADE for spain resulted in continouse fall in unemployement and also the inflow of foreigners who exploited this boom in the economy.…show more content…
Firstly, the government can cut down on taxes and increase spendings thus increasing the aggregate demand and thus, resulting in higher growth. Secondly, the labor laws should bereformed and made flexible so that firms hire more workers and there is less bureaucracy, providing better education and training to youth population and integrating them with the work force is also very important. The government should also try and create new jobs in the real estate sector as this is the sector which has been hit the most this can be done by building new houses and

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