1 million new jobs in Spain?
MADRID | Sean Duffy | Yesterday brought positive data on the housing front and on job creation, with Spanish bank BBVA prediciting the economy will reap considerable benefits from the falling oil price.
unemployment
Spanish employment swimming in calmer waters
MADRID | By Fernando G. Urbaneja | The macro (and micro) piece of data tarnishing the image of Spain is that of unemployment, an anomaly for a developed economy. It is not new but a problem we have been suffering for the last three decades. Even during prosperity times, unemployment reached double digits (8% in the most favourable moments). The last great recession exacerbated the problem and jobless rate soared to 25%, bluffering analysts and market makers.
The curse of cheap oil
WASHINGTON | By Pablo Pardo | Why do they call Economics the Dismal Science? In theory, because it is about using limited resources to satisfy unlimited needs. In practice because, no matter what, everything is always bad in Economics. Case in point: cheap oil.
Spain’s unemployment registers its best numbers in 19 years
MADRID | The Corner | The number of unemployed people registered in the Public Services of Employment has fallen to 4,512,116. It dropped by 14,688 people in November with respect to the previous month. This represents the best figure for November since records began in 1996, according to the Ministry of Labour and Social Security. The unemployment rate has now fallen for three consecutive months
UK: let’s be more British, please
LONDON | By Víctor Jiménez | Raise the main interest rate? Certainly not. Or not yet, anyway. While the US economy is not showing clear signs of having overcome the assisted breathing phase (i.e. printing money or the recently wound up phase of quantitative easing that the Fed finished two weeks ago), the chances are that the Bank of England will keep the price of the pound at a very low level.
Dollar’s quick appreciation raises questions for markets
MADRID | By Francisco López | The strength of the dollar –which is in maximum levels and has appreciated by almost 11% against the euro since January 2014, has started to cast doubt among market watchers. Some experts consider that such strong appreciation does not correspond to Janet Yellen’s cautious decisions or to the low inflation expectations at a global level, which leaves room to central banks to maintain loose monetary policies.
Spanish Social Security lost 100,000 affiliated in August
MADRID | The Corner | Unemployment continues to afflict Spaniards and official figures released on Tuesday added even more pressure on the authorities: 8,700 more jobless people were registered in August, the first rise in unemployment after six months of improvement.
Draghi’s speech marks a turning point in ECB rhetoric
MADRID | The Corner | Although it is not part of ECB’s mandate, last Friday in Jackson Hole, President Mario Draghi spoke about what needs to be done in the euro area to address the problem of high unemployment and weak economic growth. As Barclays analysts believe, the speech “represented a significant breakthrough in the ECB rhetoric and will probably have significant implications regarding the debate just about to start between European government on policies that need to be deployed to avoid a ‘triple-dip recession’ and a fall in outright deflation.”
Spanish unemployment rate falls for sixth straight month
MADRID | The Corner | The unemployment rate in Spain falls in July by 29,841 people and drops for six consecutive months. The total number of unemployed stands at 4,419,860. For the first time, unemployment is below the 4.42 million that the current executive found when it came to power. Regarding to the nature of the employment created, it is important to highlight the growth of indefinite contracts by 18.41%. The cumulative reduction of unemployment in the first 7 months of the year (281.478 people) is the largest since 1998. In seasonally adjusted terms, unemployment registered in July grows in 32,357 people, a figure which corresponds to the time series trend, where since 2000 the seasonally adjusted unemployment always increases in July, with the only exception of 2004.
EZ: Inflation and unemployment rate falls slightly in July
MADRID | The Corner | The fall in inflation in July to 0,4% YoY and a still high unemployment rate of 11.5% in the Eurozone show that the policy measures the ECB announced in June are going to take some time to reach the real economy.