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This graph really is impressive.
Anybody guesses when the vertical ascent might stop?
http://blogs.telegraph.co.uk/finance/files/2010/04/scary.jpg
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Some are predicting unemployment in Spain could go up to 25%, this will obviously be a huge problem with the knock on effect it has with social unrest and crime
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Until Spain deal with its antiquated social security, labour laws, punitive anti wealth creating taxation system, legal system and the massive dogmatic civil service. The unemployment situation is here to stay for generations as it has been from the days of Franco.
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A great example of head in the sand:
The latest data shows nearly 36,000 more joining the dole in March to take the total to 4,166,613. But because there has been a 22,400 increase in the numbers contributing to the Spanish Social Security system (the first increase in those numbers for 20 months) the Deputy Prime Minister, María Teresa Fernández de la Vega, said the number showed that “we are on the road to recovery”.
Over the past 12 months unemployment has increased by 561,211, but because figures for March 2010 is smaller than March last year the Secretary General for Employment, Maravillas Rojo was able to claim “the increase was slowing down”.
So unemployment is still rising but somehow “the increase was slowing down” and Spain is “on the road to recovery”.
I bet everyone feels totally encouraged by those comforting words from the powers that be. And I thought it was the British Labour Government who was the expert at massaging figures/data.
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Charlie, it is really funny (sad ❗ ) to see how the spanish media try to make a positive out of a negative. Unemployment in Marbella has gone down…seasonally adjusted it has gone up! Traditionally March is the time for hiring to start the season, ie. unemployment drops, and rises again in September. According to the Sur unemployment has dropped in Málaga province…seasonally adjusted it has rose75,000 😕
We have been reading various tourism figures in the spanish press, all positive according to the headlines (would take a statistician to get the bottom line 😆 ). Now we read that actually hotel occupation was down 11% for the first quarter.
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