- Prison Planet.com - http://www.prisonplanet.com -
Spain’s current unemployment rate exceeds the US rate during the Great Depression
Posted By admin On April 29, 2012 @ 3:59 am In Money Watch | Comments Disabled
SOBER LOOK 
April 29, 2012
The latest Spanish unemployment rate was published today. There isn’t much one can say about it other than to draw the following parallel.
Here is the chart of US unemployment rate going into the Great Depression: it maxed out at 21% – 22% (early to mid 30s).
|US unemployment rate (source: Wikipedia)|
This is Spain’s unemployment rate now: 24.4%.
|Spain’s unemployment rate (source: INE)|
Even with last night’s downgrade of Spanish government debt to BBB+, given these unemployment figures it is hard to see how these bonds could still be classified “investment grade”.
Article printed from Prison Planet.com: http://www.prisonplanet.com
URL to article: http://www.prisonplanet.com/spains-current-unemployment-rate-exceeds-the-us-rate-during-the-great-depression.html
URLs in this post:
 SOBER LOOK: http://soberlook.com/2012/04/spains-unemployment-rate-exceeds-us.html
 Image: http://3.bp.blogspot.com/-rxlRBf3BEHs/T5qNZRAJbkI/AAAAAAAAEUI/EmI6bIFek2s/s1600/US%2Bunemployment%2Bduring%2Bgreat%2Bdepression.png
 Image: http://1.bp.blogspot.com/-fvsTRmORSVI/T5qPyXygwNI/AAAAAAAAEUc/Kp9sIahSR10/s1600/Spain+unemployment.png
 Moody’s predicts default rate will exceed peaks hit in Great Depression: http://www.prisonplanet.com/moodys-predicts-default-rate-will-exceed-peaks-hit-in-great-depression.html
 Spain’s Unemployment Rate Rises to One in Four: http://www.prisonplanet.com/spains-unemployment-rate-rises-to-one-in-four.html
 CBO: Longest Period of High Unemployment Since Great Depression: http://www.prisonplanet.com/cbo-longest-period-of-high-unemployment-since-great-depression.html
 Real Unemployment Rate 14.6 Percent in October: http://www.prisonplanet.com/real-unemployment-rate-14-6-percent-in-october.html
 Labor Force Participation Rate Drops To Fresh 25 Year Low, Adjusted Unemployment Rate At 11.7%: http://www.prisonplanet.com/labor-force-participation-rate-drops-to-fresh-25-year-low-adjusted-unemployment-rate-at-11-7.html
Copyright © 2013 PrisonPlanet.com. All rights reserved.