Spanish Unemployment - Good News

The unemployment rate in Spain dropped, at the end of 2018, to its lowest level in a decade. From the peak of over 25% on 2013, the official rate has now fallen to 14.4%.

Although still high compared to the EU average of 6.6% or the Eurozone 7.9% it is perhaps as well to bear in mind the prevalence of cash in the Spanish economy. Many people, although officially unemployed, are receiving funds for work done outside of the official economy. And this applies to all walks of life, both employed and unemployed. Even architects and lawyers as well as painters and decorators, gardeners etc. like to enjoy part of their fees outside of the system.

Why else are 35% of all the Bin Ladens (€500 notes) in circulation in the Eurozone reputedly in Spain?