Spain: fast employment growth (but….)
According to the European Commission, Spain does well. And it does: after 6 years of decline employment has increased with 1,2 million. This is, when it comes to EU job creation, a decisive development! But… well, look at graph 1. Employment is nowhere where it has to be. And double digit increases in the number of tourists won’t last forever – Spain will need a new growth sector (or a more equitable division of labor). When it comes to this: half of the employment increase took place in the 55-64 age group (second graph). Good. The left wants people, including the middle aged, to work. Which of course includes ‘Ehrenamtliche arbeid’ or ‘Honourable work’, as the Germans call voluntering, as well and family care. But it also includes paid work.
However – in a situation of less than full employment it also means that employment for the 20-55 groups (the people with families) is still 2,5 million down on the 2008 number (and remember: the 2008 bust was not caused by an overheated labor market). Steve Bannon has a point. We need full employment. Andhe European Elites failed these families.