Source: huffingtonpost.com via AK on Pinterest
Spain unemployment rate hit a record: youth rate at 55%
Official data showed that the jobless rate in the last three months of 2012 rose 1% to 26%, or 5.97 million people.
The figure, the highest since the mid-1970s, follows Spain's prolonged recession and deep spending cuts.
The impact has been acute for 16 to 24-year-olds, who saw the rate in the last quarter of 2012 surge to 55.13% from 52.34% in the previous three months.
Spain's economy sank into recession after its property crash left millions of low-skilled workers without a job, and general economic decline eroded business and consumer confidence.
"We haven't seen the bottom yet and employment will continue falling in the first quarter," said Jose Luis Martinez, strategist at investment bank Citigroup.
Keep reading: BBC News – Spain unemployment rate hit a record: youth rate at 55%.
