While Spain’s overall jobless numbers are improving, beneath the good news is a very troubling number.
The “recovery” is, in fact, skipping a generation, as experienced workers are bypassed in favor of less experienced younger workers who will labor for lower pay.
The rate for long-term joblessness in Spain has, in faqct, increased eleven-fold since the start of the Bush collapse.
The numbers point to a Potemkin recovery, in which there is improvement for some, but those hardest hit by the Great Recession are left to contemplate very bleak futures.
From El País:
The gradual reduction in Spain’s unemployment figures is not translating into any improvement for the country’s long-term unemployed, growing numbers of whom are being left behind: one in four jobless have been out of work for at least four years, says a report by the Fedea economic think tank based on official figures.
Between April and…
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