Youth unemployment has been one of the major issues in the Spanish labour for a number of years. However, it has been the latest crisis in the euro zone that has highlighted the issue and it has worrying consequences for future growth in the Spanish economy. One cause is that of education participation.
As the chart (BBVA Research – Madrid) below shows, the rate of youth unemployment in Spain during the 1990‘s showed little change between the various sectors of education. From 2000 onwards those with secondary and tertiary education had lower rates of unemployment when compared to their counterparts whom had left secondary school early – the latter unemployment rate being consistently above 20%. The current crisis in the euro zone has seen the unemployment rate of those in the lowest level of education rise to 50% when compared to 35% amongst those who finished secondary education and 30% of whom gained a university degree. Tertiary education needs to be restructured in their content and duration as too many degrees have no direct future with regard to employment. Maybe there needs to be greater links with the private sector in order to improve the employability of graduates. It could be the case that certain degrees have compulsory internships that provide students with experience and specific knowledge.