Europe’s youth unemployment levels have steadily risen since the crisis began, but were already high in some countries.Europe’s youth unemployment levels have steadily risen since the crisis began, but were already high in some countries. The youth unemployment crisis deepens across the eurozone are now out of work.
Even students with technology degrees in Computer Science and IT are suffering in these market conditions. Srtict labor law for those already emplyed means that only temporary work is available for those lucky enough to find it.
Leaders have pledged to agree a new strategy for youth unemployment at a summit in June, and many measures are lined up (details here). But the scale of the problem is huge, and worsening.
The European Youth unemployment crisis deepens in both the eurozone the 17 nations that share the euro currency and the European Union as a whole. Nearly one in four young people across the eurozone are now out of work, showing the desperate for a new strategy on youth unemployment.
The figures just released by Eurostat show that 3.624 millions young people are out of work across the euro area, and 5.627 million in the wider European Union. That means the jobless rate for 16-24 year olds in the eurozone is now 24.4%, up from 24.3% in March. An additional 180,000 young people joined the ranks of the jobless over the last year.
In the EU, the youth jobless rate is 23.5%. The worst rates, as ever, as recorded in Southern Europe, the countries which Blockupty say they are showing solidarity with today.
In Greece, 62.5% of young people are out of work, in Spain it’s 56.4%, then Portugal with 42.5%, and then Italy with 40.5%. In contrast, the lowest rates were observed in Germany (7.5%), Austria (8.0%) and the Netherlands (10.6%).
Leaders have pledged to agree a new strategy for youth unemployment at a summit in June, and many measures are lined up. But the scale of the problem is huge, and worsening. (guardian.co.uk)
The European Union and the 27 nation bloc has seen another rise in unemployment. Finance ministers and the European commission president Barosso have to focus on staggering youth unemployment rates.
The president of the European Commission has finally recognized the youth unemployment crisis in the Eurozone as a serious issue. After the relentless German led push for austerity, European youths are paying the price for austerity dogma.
The IMF is part of the troika along with the EU, ECB that have pushed for austerity measures as a solution to the financial crisis which started in 2008. While the USA and Japan have tried and succeeded at its stimulus and counter-cyclical measures the EU went headlong into pro-cyclical austerity only to see debt, deficits and unemployment rise.