The hole in Spain's economy is getting deeper.
The government reported Friday that unemployment rose to 24.4 percent in the first quarter _ compared with 22.9 percent in the fourth quarter _ and that more than half of Spaniards under 25 are now without jobs.
The bleak employment came one day after ratings agency Standard & Poor's downgraded the country's debt.
The Spanish economy is in recession for the second time in three years as the damage from a housing bust persists. Foreclosures are rising, Spain's banks are in worse financial shape and the government's deficit is hitting worrisome levels.
The first-quarter employment data showed...