Factors That Affect Unemployment In Spain

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Unemployment is defined as “people of working age who are without work, available for work, and actively seeking employment.” (www.ilo.org). There are many factors that will affect the unemployment rate such as, exchange rates, costs of raw materials, and international economic conditions (Blink & Dorton).
Unemployment is becoming a major threat in many countries. Spain is an example of how unemployment is a big factor of causing the economy to slow down. The rich are getting richer, and the poor poorer. “We are turning into a ‘hotel economy’: managers on top, and maids and waiters at the bottom. No mid-level positions,” Alonso said (IB Times). Due to the struggles that Spain is facing the young generations are starting to learn new languages, such as German and English, and are beginning to want jobs outside of Spain in order to be able to have the opportunities to work abroad. Between 2008 and
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Since Spain adopted the Euro in 1999, unemployment rates have risen in high amounts. Many companies, such as Zara, have had to close down stores in the past years. The reason for this is due to low unemployment Spain is in a recessionary period, people have begun consume less since their income is not as high as it used to be, considering that there are unemployment benefits. An issue is that some argue that in times of hardships for those looking for jobs, the unemployment benefits should be raised in order for there to be a balance. For example, “in Spain, those who lose their jobs receive 75-80% of the final salary for a period of two years, as redundancy pay. After those two years, the

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