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MADRID (Reuters) – Spain’s Economy Minister said on Wednesday that job creation in 2014 would be “significant” as a tentative economic recovery kicks in, but a poll showed most Spaniards do not expect any clear improvement until 2015.
“2014 will see the net creation of jobs, higher even than we predicted in September in the budget, and the jobless rate will fall,” Luis de Guindos told Cadena Ser national radio, declining to put a number on expected jobs created.
Spain exited a recession in the third quarter of last year but the economy is still sickly and with unemployment officially predicted at 25.9 percent in 2014, roughly where it is now, there is little perception of a real recovery on the streets.
Separately on Wednesday, a poll of 1,000 people published in newspaper El Mundo showed that 71 percent of Spaniards believe the recovery and the end of the crisis will start in 2015 at the earliest.
The country is still reeling from a decade-long housing bubble which burst more than five years ago, forcing a 41-billion euro ($56 billion) bailout of the country’s banks, which were glutted with property debt.
The center-right government decreed a labor market reform in late December to encourage employers to take on more part-time workers and to simplify contracting in hopes of fuelling job creation.
“We believe the labor reform will make the market more dynamic … in 2014,” Guindos said in the interview recorded a few days ago.
However one think tank has said the changes fail to tackle Spain’s notoriously two-tiered labor market, with security for long-term fixed contracts and practically none for shorter-term ones.
Guindos added that the economic recovery would take root thanks to an expected tax reform which would look to reverse a personal income tax rise implemented when the government came to power in 2011, and cut
Struggles of the young and jobless – Business – CBC News. (FULL ARTICLE)
Friday’s employment figures held a rare spot of good news for young workers – the creation of 15,700 jobs for 15- to 24-year-olds in September.
The burden of unemployment has fallen especially heavily on Canada’s youth over the last three to five years.
Youth joblessness currently stands at 12.9 per cent, down from 14.1 per cent in August, possibly on account of many young people returning to school in the fall. That compares with a Canada-wide unemployment rate of 6.9 per cent.
‘It definitely is a very competitive job market, and when it is competitive, employers have more choices.’– Manjeet Dhiman, job counsellor
Youth participation in the workforce is a scant 63 per cent, and only 48 per cent of young workers have full-time employment, with the rest making do with part-time work, according to Statistics Canada.
And while dismal job prospects have encouraged many young Canadians to stay in school, for many, a master’s degree is no guarantee of employment in any job, let alone in their field of study.
- Ontario facing “chronic” youth unemployment (o.canada.com)
- Young people dropping out of the workforce amid high youth unemployment (o.canada.com)
- OECD: Canada, U.S. to see unemployment fall (globalnews.ca)
- OECD: Bleak job outlook for eurozone (bbc.co.uk)
- OECD: Unemployment to remain high as Canada and the world fails to shake financial crisis (business.financialpost.com)
- OECD says joblessness will decrease in Canada (cbc.ca)
- OECD Doesn’t See Unemployment Falling Until Late 2014 (blogs.wsj.com)
- OECD sounds alarm on growing emergency over youth unemployment (business.financialpost.com)
- OECD: Unemployment to stay high next year (miamiherald.com)
- Long-term youth unemployment has nearly tripled since Coalition came to power (mirror.co.uk)
- Could this be a universal solution?: Addressing the youth unemployment crisis in the Middle East (millennialambitions.com)
- Youth unemployment ‘through roof’ (standard.co.uk)
- Terrible News For America’s Youth (huffingtonpost.com)