en

IEB

Universitat de Barcelona logotipo
IEB Report
Fiscal Federalism
Fiscal devaluation

IEB Report 1/2013

The global nancial crisis has had a devastating effect on the Spanish economy. Its former dependence on the construction sector and its labour market characterised by the proliferation of low-productivity jobs have seen the unemployment rate rise to just above 27%. Despite this, it was not until 2012 that the nominal compensation per employee fell slightly, -0.3% (Bank of Spain, 2013, Table 1.1), while, despite an increasing number of news stories about the “brain drain”12and a notable increase in the number of displaced workers since 2007, the percentage of displaced workers still remains below the EU-27 average (Eurostat).



Download PDF

This website uses cookies to ensure that you receive the best experience when navigating. If you continue without changing the settings, you accept its use in conformity with our cookies policy. More information