Spain's unemployment rate
soared to a new record of 27.2% of the workforce in the first quarter of 2013,
according to official figures.
The total number of unemployed
people in Spain has now passed the six million figure, although the rate of the
increase has slowed.
The figures underline Spain's
struggle to emerge from an economic crisis which began five years ago.
A big demonstration in Madrid is
being planned against the austerity measures.
On Friday, Prime Minister Mariano
Rajoy will unveil fiscal and policy measures aimed at halting recession in the
eurozone's fourth-largest economy.
"These figures are worse than
expected and highlight the serious situation of the Spanish economy as well as
the shocking decoupling between the real and the financial economy," said
Jose Luis Martinez, strategist at Citi.
Last week, the International
Monetary Fund cut its 2013 forecast for Spain's growth to a 1.6% contraction
from 1.5% and said the unemployment rate would peak at 27% this year.
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