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Article: Unemployment in Spain: causes and remedies.
- Article from:
- Finance & Development
- Article date:
- September 1, 1995
- Author:
CopyrightCOPYRIGHT 1995 International Monetary Fund. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Unemployment, a serious problem in many European countries, is especially pressing in Spain, where nearly one fourth of the work force has been jobless since 1994. Spanish unemployment is notable for its persistence as well as its magnitude. What are the causes, and is there a remedy?
Spain has the most severe and intractable unemployment problem of all the industrial countries. Unemployment grew steadily from the late 1970s through the mid-1980s; the share of the labor force without jobs rose from less than 5 percent in 1977 to 21.6 percent in 1986 [ILLUSTRATION FOR CHART OMITTED]. Since 1982, the unemployment rate has not dropped below 15 percent, even during ...