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  • The Effects of The Big Crisis in The Spain

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    Cornelia Ozarciuc
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    Spain experienced a major economic crisis due to a property crash, loss of competitiveness, and high public debt and unemployment. Spain has the second highest unemployment rate in the EU after Greece at 26.2% due to a property bubble and preference for temporary jobs. While the unemployment rate declined in 2013, long term consequences remain such as worse job conditions, a stressed population, immigration, and a lost generation without hope despite being well educated. Labor market reforms were implemented in 2012 as a solution.

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    The Effects of the Big Crisis in the Spain

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    The Effects of the Big Crisis in the Spain

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    Spain experienced a major economic crisis due to a property crash, loss of competitiveness, and high public debt and unemployment. Spain has the second highest unemployment rate in the EU after Greece at 26.2% due to a property bubble and preference for temporary jobs. While the unemployment rate declined in 2013, long term consequences remain such as worse job conditions, a stressed population, immigration, and a lost generation without hope despite being well educated. Labor market reforms were implemented in 2012 as a solution.

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    Attribution Non-Commercial (BY-NC)
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    10 views3 pages

    The Effects of The Big Crisis in The Spain

    Uploaded by

    Cornelia Ozarciuc
    Spain experienced a major economic crisis due to a property crash, loss of competitiveness, and high public debt and unemployment. Spain has the second highest unemployment rate in the EU after Greece at 26.2% due to a property bubble and preference for temporary jobs. While the unemployment rate declined in 2013, long term consequences remain such as worse job conditions, a stressed population, immigration, and a lost generation without hope despite being well educated. Labor market reforms were implemented in 2012 as a solution.

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    The effects of the big crisis in the Spains economy -Property crush -Loss of competitiveness -Public debt 90.

    69 % of GDP -Very high unemployment rate Spain is the second country after Greece to cause EUs decline Europes main concern in the Spanish economy - Highest unemployment rate 26.2 % after Greece

    what explains Spains percentage of unemployment rate?

    -property bubble

    -Preference for temporary jobs-

    Consequences -In 2013 the unemployment rate in Spain is considered to decline, but the consequences of this economic situation could have a long term impact, especially on the society.

    Worse job conditions -Stressed population -Immigration


    "This is the least hopeful and best educated generation in Spain,

    Solution Labor Market Reform 2012

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