POSTED: Tuesday, December 4, 2012 - 10:00am
UPDATED: Tuesday, December 4, 2012 - 10:04am
NBC News — Spain's record unemployment rate continues to climb. The latest figures show that one out of four working age Spaniards are out of a job. Spain has the highest unemployment rate in Europe hovering near 26%.
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 and controversial austerity program in hopes that it will stimulate the economy.