27 Oct 2012

Spanish unemployment at record high

2:44 pm on 27 October 2012

Unemployment in Spain has risen above 25%, a record level.

Official figures put the number out of work at well over 5.7 million.

About half of working-age people aged 16 to 24 have no job, and in parts of southern Spain, one in three of those looking for a job cannot find one.

Spain has introduced highly unpopular spending cuts and tax rises as it attempts to reduce the country's deficit.

The Spanish government has been in financial difficulty since the 2008 global financial crisis caused a big crash in the country's over-heated property market.

The government is still hoping to avoid requesting a bailout from the eurozone rescue funds, but many think this is inevitable.