Spain’s labour market
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Nearly 5m people in Spain are jobless, and the country has an unemployment rate of more than 21 per cent of the workforce, double the European Union average. For young Spaniards, the rate is over 40 per cent.
A key reason behind this is the lack of dynamism in the Spanish labour market and the rigidities that create immobilities.
An excellent article in today’s FT on the rigidity of the Spanish labour market looks at this.
It discusses the kind of supply-side reforms that Zapatero is looking at to de-regulate the labour market; including part-time workers regulations, working hours rules; collective bargaining being loosened.
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