Employment in Spain Hit Hard by Recession
I saw on the news today that on average 20% of shops are closed down and stand empty. That is the result of the recession which has forced many retail businesses to close. Ethel Austin, a big High Street clothing retailer has now gone in to administration putting hundreds of people out of work. If that’s the case here, what about in countries where they are perhaps even more dependant on retail? Greece, for example, is facing huge cut backs to its budget, with wages in some industries being frozen. And with fewer tourists going abroad from the UK on holiday it is bound to affect employment in Spain where again the economy looks bleak right now.