Spain doubles unemployment again European Union and of euro zonewhile the President of the Government, Pedro Sanchezis dedicated to providing jobs during its tour of Africa. More precisely, the unemployment rate of the Eurozone and the EU reached historic lows in July, a level in which Spain lags behind. Thus, the countries of the Community reached a percentage of unemployment 6% and those who use the euro as their currency 6.4%.
THE spanish economyHowever, it doubles these rates and amounts to 11.5%, which reveals one of its major structural problems. This is reflected in the data published this Friday by the statistical portal of the European Commission, Eurostat.
Meanwhile, Sánchez is taking advantage of his tour of Africa to promote what he calls “circular immigration,” that is, covering jobs in Spain with immigrants. In fact, Spain already has an agreement with these characteristics with six countries –MoroccoColombia, Ecuador, Honduras, Argentina, Senegal and Uruguay – and now Sánchez intends to expand it to Mauritania And Gambia.
Sánchez’s new plan is an initiative to train immigrants in their home countries with the aim of occupying specific jobs in Spain for a limited period of time. This plan focuses mainly on sectors such as agricultural and the textileOnce their work in Spain was finished, the immigrants would commit to returning to their country of origin.
The unemployment problem in Spain
However, unemployment data released on Friday show that Spain does not have the capacity to offer these positions. In fact, more than 2.8 million people are unemployed in the country. The problem is such that Spanish unemployment is at the top of both the Eurozone and the European Union.
Eurostat revealed that 13.10 million people There were no jobs in the EU in July, of which 10.99 million were in the eurozone. In other words, Spanish unemployment represents a quarter of the total number of countries using the euro (25%).
Among the Twenty-Seven, the highest unemployment rates in July corresponded to Spainwith 11.5%; Greecewith 9.9%; and Finlandwith 8.4%. On the contrary, the lowest unemployment rates were observed in:
- Czech Republic: 2.7%
- Poland: 2.9%
- Malta: 3%
In July 2024, the unemployment rate among under 25 years old in the euro area it was 14.2%, while in the European Union as a whole it was 14.5%. In absolute terms, this means that 2.81 million young people were unemployed in the EU, including 2.26 million in the euro area.
In Spain, the situation was more critical, with 2.81 million unemployed, including 460,000 young people under 25. This translated into a youth unemployment rate of 25.5%, the highest in the European Union, followed by Suede with 24.4% and Estonia with 22.8%.
Unemployment in the EU and the Eurozone
Thus, the structural problem of unemployment continues to be talked about and is taking root. A variable that shows Spain’s inability to face projects that involve offer jobsnot only for immigrants, but for Spaniards themselves.
The other countries on the continent have a much wider margin. In fact, the eurozone unemployment rate reached its lowest level since the start of the series in 1999while in the EU as a whole this figure also remained at its lowest level since records began.
Thus, the data reflect a monthly decrease of 82,000 unemployed in the EU and 114,000 in the euro area, while compared to last July 2023, unemployment decreased by 72,000 people in the EU and 190,000 people in the euro area.
And that’s not the only good news for European authorities. The eurozone inflation rate was reportedly in August at 2.2% over one yearfour-tenths below the 2.6% price increase seen in July and the lowest data reading since July 2021, according to the provisional data estimate also released by the office on Friday. Eurostat.
