Spain's unemployment rate climbs to record high

MADRID. April 25. KAZINFORM Spain's unemployment rate rose to a record high of 27.2 % in the first quarter of 2013, the Spanish National Institute of Statistics said Thursday.
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The figure represented an increase of 1.1 % from the previous quarter as a painful recession continues to take a toll on the debt-stricken nation.

In 2007, before the global economic crisis hit, Spain had 1.9 million people unemployed -- 8.6% of the active population. The figure now is 6.2 million people unemployed.

Joblessness is higher among men than women. Youth unemployment is also a particular issue.

Anti-austerity protesters are expected to march on the Spanish Parliament later Thursday in the capital, Madrid.

Spain, the fourth-largest economy in the eurozone, is suffering its second recession in three years, and its ailing banking industry has had to draw on the eurozone's bailout fund to stay afloat.

But it has stopped short of following in the footsteps of Greece, Ireland and Portugal in requesting a full-blown sovereign bailout.

Successive rounds of austerity measures have prompted repeated angry public protests on Spain's streets.

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