MADRID (MarketWatch) -- Unemployment in Spain jumped to 17.4% in the first quarter of 2009, bringing the total number of unemployed to 4,010,700, the National Statistics Institute reported on Friday. In the fourth quarter of last year, Spain recorded an unemployment rate of 13.9%. In the last 12 months, the number of unemployed increased by 1,836,600 persons as a deep recession has hit the country hard. Many economists expect Spain's unemployment will top 20% by next year. OMG !