European Commision’s estimations

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Misteries to solve about Spain’s structural unemployment

MADRID | By Julia Pastor | Overwhelming figures on Spanish unemployment are as unbereable and unjustifiable as difficult to undo. Nevertheless, it is convenient to remember that these numbers start from a structural rate of around 9% which would always distort comparisons with other European countries as well as final conclusions. According to the last European Commission estimates, natural rate of unemployment in the country has increased from 10.9% in 2006 to 23.2% in 2013, which will increase structural figures to 26.6% by 2015. This gives some sort of “apocalyptic view” over Spanish economy’s state, JP Morgan’s says to its clients. Maybe economists at the EC “forgot to make some reasonable adjustments.”