Wednesday, January 21, 2009

Spain, which has enjoyed 14 years of consecutive growth, has gone into sudden reverse

Analysts expect figures to show that the country is already in recession, with GDP falling since the middle of last year.

The gloomy statistics are building up. Last week, they showed that industrial output had tumbled by 15.1%, the biggest fall on record, and the country's unemployment rate hit a 12-year high in 2008 of three million.

It is almost impossible for highly-educated job-seekers like me to find a job. The problem in Spain is that almost everyone has a university degree, so you have to do something else, like a masters or doctorate degree. But in this situation, it doesn't even help.

The figures given yesterday by the government were depressing: three million unemployed - one million more than last year. And the figures may rise one more million in 2009.

Many young people are like me, they don't have any proper contracts or social security. That's why we all live with our parents until we are 30 years old.
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