http://www.bbc.co.uk/news/business-17557172
New update on the old issue. Spain government decides to tighten its public administration cost in order to prevent itself from the debt crisis. This decision is apparently not popular with the younger population. The country already boast the highest unemployment rate for under 25 years old youth among European countries, at well over 24%. The new austerity measure will mean further benefit cut and many strikes have been going on in big cities (Madrid and Barcelona). At the least, they seem to be things better than their neighbor Italy whose government struggle to reach any meaningful agreement recently.
New update on the old issue. Spain government decides to tighten its public administration cost in order to prevent itself from the debt crisis. This decision is apparently not popular with the younger population. The country already boast the highest unemployment rate for under 25 years old youth among European countries, at well over 24%. The new austerity measure will mean further benefit cut and many strikes have been going on in big cities (Madrid and Barcelona). At the least, they seem to be things better than their neighbor Italy whose government struggle to reach any meaningful agreement recently.
2 comments:
While remaining out of debt is clearly important, what other measures could Spain take in order to not raise unemployment among young people. Those workers are the future of the country and without them in the workforce, the future economy will struggle.
I agree with Christin. The real problem here is promoting intensive growth through a more productive workforce. I'd be interested in reading more about why this country has developed with such low unemployment. Perhaps the government should be implementing ways to promote company growth or foreign businesses to the region so that more youth can get jobs.
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