Almost half of young Spaniards unemployed

Marcelo Del Pozo / Reuters

People enter a government job centre in Chipiona, on the southern coast of Spain.

By msnbc.com staff

There's no doubt that the U.S. unemployment rate of 8.5 percent (as of December) is painful for Americans. But?pain can be relative.

Spain reported Friday that its jobless rate jumped to 22.8 percent in the fourth quarter, according to The Associated Press, up from 21.5 percent in the third quarter. That means?5.3 million Spaniards were out of work in the last three months of the year versus 4.9 million in the third quarter.

The Spanish jobless rate is by far the highest in the eurozone, with Ireland?a distant second with 14.6 percent unemployed.?

It gets worse for Spain. For young?Spaniards?ages?16 to?24, almost half, or 48.6 percent,?are not working, the BBC reported.?

Source: http://bottomline.msnbc.msn.com/_news/2012/01/27/10251043-almost-half-of-young-spaniards-unemployed

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