Business

Spanish jobless level hits another record high

Unemployment queue in Spain
Image caption The government does not expect the economy to start creating jobs until the end of the year at the earliest

Unemployment in Spain, already the highest in the European Union, has risen to a 14-year high, with 4.9 million people out of work.

The rate in the first three months of the year was 21.3%, up from 20.3% in the previous quarter.

The Spanish economy has been hit by depressed economic activity and high public deficits and debt.

Spain's government has imposed tough austerity measures to reduce these debts.

The government does not expect the economy to start creating jobs until the end of the year at the earliest.

"Hopefully this marks the peak of unemployment. I don't think the situation will improve dramatically in the next few quarters but it should at least stabilise," said Tullia Bucco, an economist at Unicredit.

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