“Spain announced Friday that its unemployment rate broke the 25-percent barrier for the first time as austerity cuts squeezed the recession-struck economy.  Tens of thousands of jobs were destroyed in the third quarter, even as Prime Minister Mariano Rajoy’s government raised taxes, cut spending and pondered whether to snatch a eurozone rescue line.  Among workers aged 16-24 the jobless rate towered at 52.34 percent in the third quarter, only slightly down from 53.27 percent in the previous quarter, the institute said.  After more than a year of recession, the soaring jobless figures and biting cuts have prompted growing street protests.”

http://www.rawstory.com/rs/2012/10/26/spanish-unemployment-tops-25-percent/

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