‘National disaster’: Spain sees 500% rise in ‘very long-term unemployment’…(Coming To A Country Near You!!)

Saturday, May 31, 2014
By Paul Martin

RT.com
May 30, 2014

Over one million people in Spain – the eurozone’s fourth largest economy – haven’t had a job since 2010, according to a report by Spain’s National Statistics Institute. Although this number continues to rise, the government says it’s witnessing recovery.

The numbers, published on May 23, show that “very long-term unemployment” in the country has risen by more than 500 percent since 2007. That year, about 250,000 Spaniards were unemployed after losing their job at least three years prior. That number drastically rose to 1.27 million in 2013 – 234,000 more than in 2012.

Generally, long-term unemployment includes jobless workers who have not been employed for more than 27 weeks. The recent study shows that this category in Spain has transformed to very long-term unemployment, with hundreds of thousands people without a job for at least three years, and is now represented by over 23 percent of the total jobless population in Spain.

The number is much higher than in other countries in the region at the same economic level, with another recent study showing that 26 percent of the country’s population is on government benefits in Spain – the second highest total in the EU after Greece.

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