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One of four Spaniards now out of work

One of four Spaniards now out of work

POSTED: Friday, October 26, 2012 - 8:00am

UPDATED: Friday, October 26, 2012 - 8:04am

Spain's record unemployment rate continues to climb. The latest figures just released friday show that one out of four working age Spaniards are out of a job. Spain has the highest unemployment rate in Europe hovering at exactly 25%.

The situation is much worse for younger adults. It's estimated that half of the country's population under the age of 30 is out of work. Spain's government is putting in place a massive controversial austerity program in hopes that it will stimulate the economy.

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