An Associated Press story suggests residents of Spain have 3 main fears as they ready for the 2008 elections on March 9. These 3 fears are terrorism, economy, and immigration. The BarcelonaReporter.com ponders the same question in our newest poll. We want to hear from the residents, what are your biggest fears for those of you living in Spain? We will report our findings in the near future. Still, these issues are definitely at the forefront of those political candidates gearing up for the challenge of this coming election.
Last year, however, it was a much different story for those residing in Spain. A Gallup Poll results showed 68 percent of Spain residents were happy with their economy in early 2007. What a difference a year can make. Spain had been one of the European Union's top economic success stories for more than a decade but this abruptly ended at the third quarter of 2007. An international financial crisis — triggered by the U.S. sub-prime mortgage crash — coupled with a slowdown in Spain construction sector has left residents puzzled at the rapid decline in their economy.
In early 2008, Job-wise, figures and actual job openings are declining. After a decade of creating more than 600,000 jobs a year Spain sees a growing slump ahead. The country of Spain had dramatically reduced the European Union’s highest unemployment rates from 25 percent in 1994 to 8.6 percent in 2007. Yet in 2008 unemployment is on the rise again. As monumental proof, the January ’08 annual unemployment rate reported to be 4.3 percent. This rate, up from 2.4 percent a year ago in January, 2007, making it the biggest jump in at least a decade. Inflation reached a 12-year annual high last month also at 4.3 percent, more than double the EU average.

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