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Laboral Market in Spain

Laboral Market in Spain

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Published by josemanuel20046031

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Published by: josemanuel20046031 on Jan 24, 2012
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01/24/2012

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LABORAL MARKET IN SPAIN
 Nowadays the laboral market in Spain is, with the permission of the hugeexternal debt, the most important trouble of their economy. There are alreadymore than five millions of unemployed in Spain, 22.5% of altogether population.The forecast for the beginning of this 2012 is that the unemployed rate will benear to reach 24% of the population, five millions and a half of Spanish people.According to the young people, the dates are still more staggering because of theunemployed rate is 48 %. Therefore, the situation is dramatic for the students of this country. The middle of them when finish their carrier will enlarge the list of the unemployed rate.Besides of those awful dates, it is knew that the situation will not be better. As wesaid before, the forecasting says that all of those rates will be worst. Spain iscurrently demonstrating be unable to create job for his population.
SITUATION IN THE DIFFERENT SECTOR
Spain is a country that has developed very quickly his economy. Theyhave changed his population of a primary and a second sector for currently onethird sector economy.Spain, until the middle of twenty century has been one not develop economy based in the first sector. The most of job come from the camp. The workers had alow productivity so, Spain wasn’t competitive enough. After the civil war (1936-39) and the post-war the economy of Spain began to grow up because of “Planesde Estabilización” (1959) that enable open the Spanish economy for the exterior.The second sector since the “Industral Revolution” has been important for theemploy but since 1970 Spain started to grow up very quickly due to the tourismand the service sector. As we know, it is a positive date because the third sector isthe most productive and more surpluses can bestow to one economy. Nowadaysthe main sector according to economic and employ situation in Spain is theservice sector with 62% of the busy people. The second sector is 31% and thefirst sector is only 7%.
 
REASONS OF THIS PROBLEM
As everybody knows, currently Europe and EEUU mainly live in a period of crisis. This crisis affect in a different way to each country depending hiseconomy. In the case of Spain, that crisis has affected much more. It is due toseveral reasons:
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The crash of the building sector in Spain coincided with the financialworld crisis. Since 1998 until 2008 Spain grew up so quickly because of this sector. In Spain they begin to build a lot of flats without mind it theywill be occupied in the future. The businessmen speculated with them.They could get astronomical surplus with the transactions of the flats. Inthe short term, nobody complain about these strange situation and theeconomy was flattered due to a lot of people began to work in these sector.So, the unemployed rate was decreasing day to day and that this sector was so surplus, the wages of the workers were high. In this way,everybody was happy, everybody could buy and consume whatever theywant. The trouble was that the Spanish population didn’t realize that theywere living up of their possibilities, with “not real money” that they get
 
with bank’s credits. Thus, at the same time that the financial global crisis,in 2008 these sector was pulled down and the consequences were terrible.The speculates businessmen went to the ruin; their companies collapsedand were closed. It triggered that thousands of people that dedicate their life on this sector went to the unemployment. A lot of families lived of thissector. All of that people that stopped to study in the past to work in thissector are now people in unemployment without academic formation.Because of this and because of that currently situation in Spain is verydifficult, almost impossible to find a job nowadays.Another consequence that generate this collapse is that currently the banks are in possession of a lot of flats. It is due to, the people can’t pay their mortgage withthem. But, in the point of view of the banks it is not a right position because of nowadays they have in their account check those flats for one value much morehigh that currently they are.
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The world financial crash had his origin in the collapse of severalinstitutions for the “credit subprime” that in the past the banks of EEUUdelivered to the population that were not able to settle it up. It triggeredthe crash of “Lehman Brothers” and other banks of all the world that did business with them. Several important Spanish banks invested in EEUU banks.
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The unemployed rate in Spain has always been the higher in Europe. Theunique moments that Spain could compare with the rate of the other European countries was As we mentioned before, in the final ninetydecade and the first years in the new century, because of the unemployedrate decreased a lot due to the building sector.The unemployed rate has always been around 15% but nowadays the situation iscritical and they have reached 23% of Spanish.In these graph we can check the evolution of the unemployed rate in thelast ten years in Spain.

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