Madrid. With southern Europe struggling under public debt, inflation and scant growth, Spain has broken a European record for unemployment.
More than one in five working-age Spaniards are unemployed - more than in any other country in Europe.
Spain's jobless rate has hit a 15-year high, nearly double the figure in neighbouring Portugal.
But many Spaniards do not believe that number is accurate. Retiree Luis Cases says that in his hometown of Valencia, it feels like 95 percent of people are out of work.
The people I know, it's 95 percent, no work, he said. It's a bad situation for young people - and old men.
Cases describes what he thinks of the official jobless rate of 21.3 percent.
No, rubbish! The government says rubbish! No, no, it's more, more, more, he said.
It's very, very difficult. There's no money. The young want to get married, have children and house. But where is the money?
Spain is southern Europe's economic engine, and is in better shape to survive the global economic crisis than its neighbors.
Ailing Portugal and Greece have asked for European bailouts, along with Ireland. But those countries have far fewer people out of work, raising the question of whether Spain's jobless rate is accurate, and what role unemployment actually plays in a country's economic well-being.
Jobless record but Spain remains economic engine
11/05/2013 00:00
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