July 23, 201312 yr Spain has been in recession for seven quarters in a row and survey indicators suggest it will extend to eight. House prices continue to collapse. Government revenue to GDP is among the worst in the union. But unemployment is where Spain has its peers beat - at 6.2 million unemployed, Spain accounts for almost one-third of the entire unemployed population of Europe. With expectations that the unemployment rate will break above 28% next year and a government embroiled in scandal, Rajoy's planned address to discuss the politicial and economic situation to his nation in August may just be the catalyst for the social unrest that has laid relatively dormant for so long. Is Spain the new Detroit? http://www.zerohedge.com/news/2013-07-23/one-third-european-unemployed-are-spanish
July 24, 201312 yr I can't believe it's true. For example Greece alone already has nearly the same unemployment rate as Spain (26.8% in March). The only way this is true is if Spain has a lot of people living in it. 47 million people do. 27% of that is roughly 13 million people, but only working age people should be counted so it's less than that ... even so, 26 million people are unemployed in EU (source) so it could very well become 1/3 Holy fuck :stunned:
July 24, 201312 yr :stunned: I stared too long at your avatar :stunned: Haven't you read what is written under my username?! :angry:
July 24, 201312 yr This 1/3rd statistic started me into a wild goose chase of looking up stats that got me nowhere, but it certainly didn't make any sense (And not just the 1/3rd statistic, numerous other ones from eurostat that just didn't add up, I might bother posting them later if I'm bored enough to look them up again). EDIT: Well just for a start. from memory, Spains population is at 47million people, with 26% unemployed that should be around 12million people, not the reported 6.2million in that article (And in news articles I've seen as it's risen). Also, the total number of unemployed people in Europe according to Eurostat was 26million people, sounds low doesn't it? I took a conservative estimate of Europe's entire population as being 750million people (Some say it could be 100million more than that, but others say 50million less) and that works out as under 4% of Europe's entire population as unemployed, which is completely impossible. Germany has the highest rate of employment, now reaching an unemployment rate (Still going down) of 5.2% (Something like 3-4 million people but it doesn't matter here), nothing about this makes any sense. Surely there's way more then 4% of Europe's population unemployed (Even before the recession, countries along eastern europe have always floated around 10%) and if that means there has to be way more than 26million people unemployed, and Spain's 6million obviously isn't a third of that, then it stands no chance of reaching a third of the actual figure. FURTHER EDIT: I didn't think it might've meant the Eurozone, meh I'm bored of looking at numbers, I still find it very unlikely that there's roughly 18m people unemployed in the other what, 16 countries?
July 24, 201312 yr Author I'm not sure how they calculate it. Do they only consider people of "working age"? They may not consider people too young or old to work, thus the actual population may be higher than the employable population? Out of those 750 million, how many of them are too young or old to have a job, thus the employable population may be much smaller.
July 24, 201312 yr It also depends on how each country defines 'unemployment'. I know that France doesn't strictly follow the definition set by the International Labour Organization.
July 24, 201312 yr Good points about those unable to work because of their age, students and people on disability wouldn't count either. Roughly speaking, that could be about half, so 6million instead of 12m unemployed in Spain at 26% of the eligible population could work out right, how 6m works out as a third of eligible people in 17 nations, that's still beyond me.
Create an account or sign in to comment