Wesley Stevenson
speaker
1,470 appearances
54 recordings
1 series
first heard Sep 2010
last heard May 2015
Wesley Stevenson’s voice in public audio — every appearance, attributed to the second.
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Appearances
And he says that the unemployment probably caused the growth of the shadow economy, not the other way around.
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The average figure for the Eurozone is a lot lower.
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It's 21.5%.
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I spoke to economist Elvira Gonzalez, and she told me that in the middle of the last decade, school dropout rates for Spaniards below the age of 18 stood at 30%, which is double the average for the EU 15.
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They're countries that joined the EU before 2004.
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And she told me there's a very good reason for this.
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And we're now seeing the flip side of that trend.
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Young Spaniards are now staying on in education for as long as they can, which is why the alarming figure of 50% youth unemployment might even be understating the problem.
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And this all comes down to the definition of who is unemployed, which is a standard set by the International Labour Organisation.
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Unemployed people are those aged 15 to 74 who in a given week are without work, available to start work within a fortnight and have been actively seeking work in the past four weeks or had already found a job to start within the next three months.
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Well, these people are deemed to be outside of the labour force.
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And in a lot of countries, this number is growing.
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So to address this problem, the International Labour Organization decided to recalculate the figures from 2010.
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This is when Spain's youth unemployment rate was a bit lower at 41%, and they calculated that if you took into account the people who had looked for work in the last 12 months, then youth unemployment was around 10 percentage points higher at over 50%.
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Well, there's some debate over whether these figures really represent the unemployed.
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The ILO say that some of these people are simply hiding out in education or lounging around living off their parents.
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But are these people really unemployed or not?
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I mean, in the end, it's quite hard to say, but it's clear, I think, that as the number outside the labour force grows, the unemployment figures start to tell us less and less about the true picture of those out of work.
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People have been complaining recently about income inequality.
If there was perfect income equality worldwide and everybody earned the same amount of money, how much would they earn?
Showing 1221–1240 of 1,470 · page 62 of 74
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