January 14, 2014
The news: During tough economic times, Spain’s youth unemployment has reached a record 57.7%. As of November 2013, a total of 983,000 people in Spain under age 25 are out of work.
The previous record was held by Greece, which had 58.4% of their youth unemployed in August of last year. That number went down to 54.8% two months later. Total European unemployment sits at 12.1%, an all-time high.
Spain hopes that employment will rise if their economic recovery goes according to plan, which entails meeting bailout demands, something Greece hasn’t done.