Spanish unemployment rate hits new high

Stat of the day: 5.7m - The number of Spaniards now out of work.

by
Last Updated: 09 Oct 2013
More worrying news from Spain. The country's unemployment rate rose to 24.6% between April and June, the highest rate for almost 40 years and a 24% rise on the previous quarter.

It means 5.7 million Spaniards (almost one in four) are seeking work. More worryingly, the unemployment rate of those aged 16 to 24 is a staggering 53%.

Spain’s unemployment rate is already the highest in the industrial world, and doesn’t show signs of slowing any time soon. Spain has entered its third straight quarter of economic contraction, and is still struggling with the aftermath of the bursting of the property bubble four years ago which threw millions out of work.

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