Funcas warns that Spain will not create employment until 2011

The Foundation of the Savings banks (Funcas) has warned that crisis still stays for moment. This way, they have affirmed that the negative effects of the crisis will extend during every 2010 and part of 2011.

The director of conjuncture and statistics of the organization, Ángel Laborda, qualified to the medium-term Spanish economic recovery of “mediocre“, what will prevent from creating employment up to at least the second half of 2011. Also, he mentioned in a few days on the current situation of Spain opposite to the world economic crisis that “the problem is how we will go out of the crisis and what characteristics the recovery will have. It will be difficult to us to reach very much again the growth rates that earlier we had had, what will prevent from lowering the valuation of unemployment of rapid form”.

According to the calculations set sail to end by Funcas, and l unemployment will reach his maximum in the third trimester of next year, when it will reach 20,5 % of the active population, what he supposes approximately 4,5 million unemployed men. The sector where the employment creation begins will be that of the services, while the industry will be late more in recovering and the construction will continue for several years destroying jobs, especially if it becomes possible to change successfully the productive model of Spain.

Also, also it referred to the imbalance in the public accounts, which it considered to be as “an enormous hole” and he foresees that I generated medium-term problems in the Spanish economy. This way c onsidera that earlier or later we will have to support an increase of the taxes that allows to re-lead the public deficit, that this year will be about 10 % of the GDP and that in the future will have to diminish drastically.
Nevertheless, it does not appear in accordance with the recent taxes increase, since, according to his opinion, the consumers have generated a suspicion between and it has created an unfavorable climate, when the necessary thing so that new investments bloom everything opposite is. Finally, he thought that next year is going to be a year complicated in the managerial ambience due especially to the high costs of the capital and of the work.

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