Spanish unemployment soars to record levels

  • Spain's unemployment rate has risen to a record of 27.2 percent in the first quarter of 2013, according to official figures released on Thursday.

    The total number of unemployed people in Spain has now surpassed six million. However, the rate of the increase has slowed down.

    Last week, the International Monetary Fund said it expected Spain’s unemployment rate to reach 27 percent this year.

    Later today, Prime Minister Mariano Rajoy is set to unveil fiscal and policy measures aimed at curbing the recession in the eurozone's fourth-largest economy.