Spain's unemployment rate hits 26%

MADRID, SPAIN - DECEMBER 04: People queue to enter a government employment office as it opens on December 4, 2012 in Madrid, Spain. Spain's registered unemployment figures rose by 74,296 hitting a new record of 4.91million according to Madrid's Labor Ministry. The current unenployment rate in Spain stands at 26 % while nationalised lender Bankia group plans to cut 6,000 jobs as a condition for the European bank bailout for Spain. (Photo by Pablo Blazquez Dominguez/Getty Images)
MADRID, SPAIN - DECEMBER 04: People queue to enter a government employment office as it opens on December 4, 2012 in Madrid, Spain. Spain's registered unemployment figures rose by 74,296 hitting a new record of 4.91million according to Madrid's Labor Ministry. The current unenployment rate in Spain stands at 26 % while nationalised lender Bankia group plans to cut 6,000 jobs as a condition for the European bank bailout for Spain. (Photo by Pablo Blazquez Dominguez/Getty Images)

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    Spain's unemployment rate hits 26%

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Spain gets bad news on its unemployment rate amid growing concerns that its economy will get worse before recovering.