Spain middle class experiencing hard time

The number of registered unemployed people in Spain spiked by 2.5 percent in January, with more than 4.8 million people out of work, the Spanish Labor Ministry says.

However, the National Statistics Institute, which conducts more accurate quarterly unemployment surveys, has announced a different figure, showing that some six million Spanish are without a job with unemployment rate standing at 26 percent in the fourth quarter of 2013.

According to the figures, Spain is currently suffering from the second highest unemployment rate in the 28-country European Union after Greece.

Grappling with a deep economic recession, Spain has adopted harsh austerity measures as part of attempts to deal with the dire situation.