Jan. 25, 2013 9:05am Becket Adams
As German Chancellor Angela Merkel addresses world leaders at the World Economic Forum, Spain and Greece continue to compete for the title of “Worst Youth Unemployment in the EU.”
Spain’s unemployment rate jumped to a record 26 percent in the fourth quarter of 2012, with youth unemployment peaking at 59.8 percent, the country’s National Statistics Institute said Thursday.
Luckily, these rates — more than double the average in neighboring EU countries — have not gone unnoticed by Euro leaders. Indeed, even Chancellor Merkel noted in her Davos speech that one of the biggest “burdens” weighing on the EU is its youth unemployment.