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Spanish unemployment continues to rise

Spanish unemployment continues to rise

POSTED: Friday, July 27, 2012 - 7:30am

UPDATED: Friday, July 27, 2012 - 7:34am

Spain's unemployment hit its highest level in some 40 years. The jobless rate rose to 24.6% in the second quarter. The number of unemployed Spaniards rose to 5.7 million.

The figure is the highest since records began in 1976. Spain's economy has stagnated or been in recession since the beginning of 2008 and has the highest unemployment rate in the European Union. The country's young adults are the hardest hit, with half of the people under the age of 26 unemployed.

 

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