Spain unemployment tops 20 percent

Unemployment in Spain has reached 20 percent. The 20 percent unemployment leaves 4.3 million people out of work. This is the second highest unemployment rate in the European Union just after Latvia. It is thought that the unemployment has peak and will now decline. Spain's economic problems are thought to be tied with their housing bust.

This is too many people to be out of work. Hopefully it is correct that it has hit its peak and the unemployment will go down. If this does not get better it will effect the rest of the world because one countries economy can throw off the rest of the world's economies. If this is not corrected the rest of the world may continue to suffer and the global economy may not recover as quickly.