Monday 4 April 2011

Employment rate is not improving in Spain , Oil prices making problems

According to Spanish Labor department , unemployed numbers touched 4.7 million this month. Conditions are not similar in America or other countries as other economies are showing recovery . Big portion of Spanish labor is unemployed. About 20% of population is unemployed. Rate is one of highest in the century. Spain has socialist government and socialist polices are also responsible for delay in recovery. In other major European countries unemployment rate is falling. One reason of slow recovery is Spanish construction boom which is ended. In past economy depended highly on construction sector. This sector takes more time to improve than other consumption sector. Oil is reaching new highly of 2years. It reached above $108 and it may slow or stop economic recovery. Conditions in Libya made situations worst.