The macro-economic indices for the Basque Country are top flight in Europe. Our economy is industrial and exporting, generating a lot of wealth. In addition, RTD investment was strengthened over the last few years before the recession.  This contrasts with the fact that in this situation, RTD investment tends to cut back although it is well-known to be one of the mainstays to overcome the recession by creating jobs with a future. *(Note)

Figures on demographic structure and business activity reveal a territory with a high degree of initiative. However, this snapshot should be viewed from two perspectives: one the one hand rural districts demonstrate the highest levels of entrepreneurism and on the other, some of the most industrial areas, specifically areas with the greatest capital in other territories, have suffered most from deindustrialisation and unemployment. *(Note)

Social indicators in fields such as training, job market or social protection from the Basque Country present reasonably high standards. However, although the data from our economy regarding competitiveness, productivity, GDP, etc. puts us in the context of the most economically developed countries, social indicators do not necessarily match up. *(Note)

Our demography is very similar to other European countries. However, this territory is home to significant contrasts as it combines areas with a high concentration of people and sparsely populated areas facing an uncertain future. The outlook is not all that bleak as some of these areas are demonstrating positive demographic stability trends.

A similar scenario to other western societies

Analysis of the employment market

Mertxe Larrañaga Sarriegi

Applied Economics I

UPV/EHU