Spanish unemployment hits new peak … One in four Spanish workers are now without a job. Spain’s unemployment rate hit a record high of 25% in the third quarter, as the jobless total grew to nearly 5.8 million people. The latest unemployment data reflects the impact of the region’s recession, and Spain’s government cuts aimed at restoring stability to the country’s finances. The national statistics office said unemployment in the July to September period rose 0.4%, compared to the previous quarter; and 3.5% compared to the year prior, as another 85,000 people were left without work. – CNN
Dominant Social Theme: We shall overcome. This is merely another challenge for civilized society.
One out of every four Spanish workers is now without a job. This is a full-fledged depression by any standard. This statistic is topped by another one, that 50 percent of Spanish youth is unemployed.
The larger unstated dominant social theme is that unemployment and subsequent suffering are simply part of life. The sub-dominant theme is that austerity is a necessary part of the solution.
Fear is an essential element. Unemployment is a fact of life and only government programs can alleviate it……………….
full article at source: http://www.thedailybell.com/28224/Spain-Consequences-of-a-Generalized-Depression
- One in four Spaniards jobless as unemployment hits record high (rt.com)
- Eurozone Unemployment Rate Hits a Record 11.6% (247wallst.com)
- Spain jobless rate hits new high (bbc.co.uk)
- Why the Economic Outlook for Spain is Positively Dismal (world.time.com)
- Eurozone unemployment hits new high (guardian.co.uk)