Spain Unemployment Soars

Spanish riot police were called into action in the confines of the Spanish parliament’s offices as following the announcement of the country’s unemployment rate hitting an all-time high.

Demonstrators were said to be seen to be pulling down railings, hurling missiles and pushing down police barricades in the Spanish capital.

Up to 15 people have been arrested with around the same number of police being injured during the demonstrations.

The protests were destined for anything but a peaceful demonstration as the organising group ‘Stand Up’ – calling for the current government to step down – asked for an ‘indefinite siege’.

The recently announced figures show that unemployment in Spain is now at 27.2% with the initial signs showing this figure to having little chance to improve in the short-term.

The actual number of those unemployed has hit a catastrophic number exceeding 6million people with over 237,000 people being made unemployed in Q1 of 2013.

As with other European countries the current government has been applying tough austerity measures in a bid to see Spain’s economy get back on the straight and narrow.

It seems Spain’s reliance on its once-thriving real estate industry has been the hardest hit which saw 100billion euros pumped into the economy from member countries of the EU to prevent further fiscal damage.

Spain’s current government has been widely criticised by Spanish citizens for combining its austerity measures with reduced spending in the public sector whilst increasing the rate of tax.

In addition to the 27.2% unemployed in Spain the future of the country also appears more grim for the youth with an estimated 56% of Spain’s youth also being out of work.