Unemployment among young adults in Spain at all-time high

According to figures released today by the Organisation for Economic Co-operation and Development, 23.7 percent of young people between 15 and 29 in Spain neither work nor study, 8 points higher than the OECD average.

According to the OECD report on education across developed nations, the only country with a worse figure of unoccupied young people is Israel.

As far as unemployed university graduates are concerned, Spain has the highest rate of all the OECD countries. And this year youth unemployment in Spain (unemployment among the under 25s) has reached record figures – 53.27%.

At 25.1%, Spain recorded the highest overall unemployment rate – a rise of 0.2% compared to in July. For the first time this year the unemployment rate (11.3%) in the Eurozone showed no rise with respect to the previous month.

Just last week OECD chief Angel Gurria said that Spain deserved European Union support and had the right to ask for a bailout to unlock required finances over the next two-to-three years.

Last night Mariano Rajoy appeared in his first televised interview since he was elected Prime Minister eight months ago. He insisted that he was still undecided about whether or when to ask for a bailout.