Just 53.9 percent of Spaniards of working age are employed, new figures from the European statistics body Eurostat show.
At 10.6 percent of gross domestic product, Spain has the highest deficit of all eurozone countries.
On Tuesday, Spain's Economy Minister told the Wall Street Journal that the country's economy will shrink by 1 to 1.5 percent in 2013.
All this has to be placed in the context of a crisis that is now into its sixth year.
At first glance, there's not a lot to get excited about in Spain right now, but we've decided to try and extract a few positives from the situation.
Entrepreneurial spirit
In business terms, there has been a change in mindset since the crisis began, according to Iniciador, a foundation that looks at entrepreneurship in Spain.
A growing number of Spaniards have decided to set up their own business in the face of crippling unemployment.
This has created a more self reliant stance among some Spaniards.
Some 55 percent of entrepreneurs, for example, have turned their backs on the banks in the hunt for financial backing. Instead, they are funding their own business ideas or falling back on family.
In total, 37 percent of Spanish entrepreneurs have set up their own businesses as a direct result of the crisis, says Inciador.
The downside here is the huge turnover in the number of new businesses.
More financially savvy
Spanish consumers are focusing a lot more on prices, and not on brands, the spokesperson for the consumer organization FACUA, Rubén Sánchez García, told The Local.
"They are not buying superfluous products and are also looking more closely at use-by dates," said Sánchez.
"Most importantly, they are much more likely to complain about fraud or if they feel contract conditions have been violated," he added.
"Although the crisis has meant a lot of suffering, it has had one positive effect in that consumers are better informed about their rights."
A study published in ABC newspaper in mid-2012 showed that 90 percent of the Spanish population believe saving is essential.
Eighty percent of all Spaniards were making an effort to cut costs on heating, air conditioning and lighting.
"One positive impact of the crisis has been that there are less carbon dioxide emissions," María José Caballero, Campaigns Manager at Greenpeace Spain," told The Local.
"This is because people are driving less, and also using strategies like car sharing," said Caballero.
"There is also less building going on," the environmental campaigns chief said.
But she said Greenpeace was worried the government wasn't using the opportunity to push ahead with greener initiatives.
She said now was the moment to promote the use of new energy sources and invest in technologies like electric cars.
More social awareness
With so many people in need, Spaniards have become more generous with both their time and money.
In 2012, over 6 million Spaniards did some form of voluntary work, according to Spain's Voluntary Work Association.
That was a 20 percent rise on a year earlier, the group said.
The Spanish Red Cross alone has 207,000 volunteers who work with homeless people and in education programmes, among others.
Meanwhile, Ferrán Casamitjana, the donations manager for Cáritas Barcelona told The Local: "We've seen a 15 percent increase in the number of donations."
"The crisis has made people more supportive of poor people," he explained. "This is because they are more exposed to poverty."
Casamitjana also said the number of volunteers had gone up and they now had 4,000 people helping in Cáritas Barcelona.
"People are changing their values. They are not as individualistic, and not as focused on money as they were before," said the Cáritas donations manager.
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