Spanish life, economy and politics -
what the foreigners don't know and the locals won't confess to
Monday, January 21, 2013
What's wrong with this picture
The chart shows the average number of employed construction workers divided by the number of housing completions, through 2009, and completions plus starts thereafter. Before the readers put their collective heads together and guess why the ratio has doubled over the life of the precipitous descent in the construction trade, they should take into account that the number of employed is from all sectors - residential, commercial and infrastructure.
It could mean simply that activity in the others has dropped even more than the nearly-disappeared residential sector. Other, more serious, suggestions welcomed in the comment box.