DAILYKENN.com -- There are no vacancies in Sweden.
If you wish to visit the former European nation, you're out of luck.
Islamic insurgents posing as refugees are taking up all the hotel space.
That’s what Goldman said last autumn as Europe’s refugee crisis began to spiral out of control. We’re not sure if it had occurred to the bank just how large the people flows into Western Europe would end up being because the implication in the excerpted passage above is that the influx of people may actually be a good thing economically speaking if it ameliorates negative demographic shifts.
Of course Goldman may be proven right in the long-run, but in the short-term the mass migration is straining Western Europe’s resources and now looks set to drive up the unemployment rate in Germany.
“German joblessness was unchanged in March, snapping a run of five consecutive declines, in a sign that Europe’s largest economy may be struggling to absorb a wave of refugees,” Bloomberg wrote, earlier today, adding that “Germany admitted more than 1 million migrants in 2015 alone [which] increased the pool of potential workers.”
A new report from Berlin’s labor agency suggests that it will likely be years before the country experiences any benefit from the migration wave. “It can be expected that the labor supply will expand because of migration and the number of unemployed refugees will rise,” as it will take time for migrants to master the language and obtain the qualifications they’ll need to join the labor force.
Meanwhile, in Sweden, the toursim industry is being choked off by the migrant flows. According to SvD Naringsliv, the Swedish Migration Board's move to transform tourist facilities into asylum centers means they'll be no more room for vacationers - literally.
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