Spanish Long-Term Unemployed Face Uphill Battle in Job Market
Long-term unemployment in Spain rose significantly after the Great Recession, affecting 57% of the unemployed. Factors like age, experience, and entitlement to benefits play a role in long-term unemployment. Low skill levels and education also contribute, especially in longer job spells. Surprisingly, workers in construction aren't worse off than those in other sectors. Reservation wages respond more to economic cycles than individual unemployment duration. To combat long-term unemployment, active labor market policies should be emphasized, along with early intervention to prevent long-term joblessness.