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Sancho Panza

Spanish Jobless Rate Dips To 25.98% As Recession Ends

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Straits Times 24/10/13

'MADRID (AFP) - Spain announced on Thursday a dip in its towering unemployment rate in the latest sign that the eurozone's fourth-largest economy is battling its way out of a long recession.

The jobless rate eased for the second straight quarter to a still high 25.98 per cent in the third quarter of 2013, a report by the National Statistics Institute showed.

The news dovetailed with a Bank of Spain assessment the previous day that Spain had emerged from recession in the third quarter with timid 0.1-per cent economic growth.

That was enough to send world stock markets higher as investors hoped for a broader recovery in the eurozone after five years of economic crisis.'

It's over.

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Straits Times 24/10/13

'MADRID (AFP) - Spain announced on Thursday a dip in its towering unemployment rate in the latest sign that the eurozone's fourth-largest economy is battling its way out of a long recession.

The jobless rate eased for the second straight quarter to a still high 25.98 per cent in the third quarter of 2013, a report by the National Statistics Institute showed.

The news dovetailed with a Bank of Spain assessment the previous day that Spain had emerged from recession in the third quarter with timid 0.1-per cent economic growth.

That was enough to send world stock markets higher as investors hoped for a broader recovery in the eurozone after five years of economic crisis.'

It's over.

not sure how all World stockmarkets can go higher on this news?...where was the money coming from to cover all this increased wealth?.....printy printy?

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Is that because all the (unemployed) Spanish youth have moved to London? (completely anecdotal, but I'm aware of 4 who have moved over in the last 2 years).

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Spain had lowered minimum wage and made working contracts more flexible, especially for temporary contracts. This has made it easier to hire workers, so employment should continue to ease going forwards. Spain has exported more as they have consumed less, which even resulted in a trade surplus at one point this year. I think they will improve from here. I can't see much chance of a trade surplus in the UK anytime soon.

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Is that because all the (unemployed) Spanish youth have moved to London? (completely anecdotal, but I'm aware of 4 who have moved over in the last 2 years).

Here's the thing. I've read a couple of times in media reports recently that it would be a slow and difficult process to ramp up house building because the skilled people and/or resources aren't available. Now it seems obvious to me that the ready solutions to these supposed problems are:

1) Spain and Ireland

2) Container ships

I mean, how many million unemployed construction workers does spain have?

Q

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Straits Times 24/10/13

'MADRID (AFP) - Spain announced on Thursday a dip in its towering unemployment rate in the latest sign that the eurozone's fourth-largest economy is battling its way out of a long recession.

The jobless rate eased for the second straight quarter to a still high 25.98 per cent in the third quarter of 2013, a report by the National Statistics Institute showed.

The news dovetailed with a Bank of Spain assessment the previous day that Spain had emerged from recession in the third quarter with timid 0.1-per cent economic growth.

That was enough to send world stock markets higher as investors hoped for a broader recovery in the eurozone after five years of economic crisis.'

It's over.

perhaps with the cheap housing they can afford to be paid less and be more competitive ???

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Inevitably, eventually, everything hits the bottom. Doubt much upward growth in coming years though.

Well at least the Spanish economy won't be weighed down by high house prices.

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Straits Times 24/10/13

'MADRID (AFP) - Spain announced on Thursday a dip in its towering unemployment rate in the latest sign that the eurozone's fourth-largest economy is battling its way out of a long recession.

The jobless rate eased for the second straight quarter to a still high 25.98 per cent in the third quarter of 2013, a report by the National Statistics Institute showed.

The news dovetailed with a Bank of Spain assessment the previous day that Spain had emerged from recession in the third quarter with timid 0.1-per cent economic growth.

That was enough to send world stock markets higher as investors hoped for a broader recovery in the eurozone after five years of economic crisis.'

It's over.

When they make a desert they call it peace..

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