TIME Employment

Spain Created Jobs!

SPAIN-ECONOMY-UNEMPLOYMENT-INDICATOR
A municipal worker cleans the ground as people walk outside a government employment office in Madrid on January 23, 2014. GERARD JULIEN / AFP / Getty Images

After 68 months of losses, that's reason to celebrate

The last time Spain posted positive job numbers, it was 2008 and Miley Cyrus was still fully clothed on the Disney Channel.

Finally, after 68 consecutive months of losses and stagnation, the number of employed Spaniards rose to 16.2 million in February, 60,000 higher than the same month last year, according to the Financial Times. Madrid hailed the improvement as a sign of a greater recovery to come.

But the gains could be fleeting. The newspaper reports that only 9% of February’s job contracts were permanent offers, and the vast majority of recent hires were contract positions that do not bestow the pension and related benefits of full-time employment.

[FT]

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