The EU Youth Guarantee: A “Lost Generation”?

EU young-1<p>EU young-1</p>

Leaders in Europe and around the world are hoping the worst of the economic and financial crisis is over and that 2014 will be a year of recovery.

However, when it comes to youth unemployment in the European Union (EU), there appears to be no light at the end of the tunnel, save for a few exceptions. Youth unemployment has been on a continuous rise since the beginning of the crisis five years ago and, according to Eurostat (the European Commission’s Directorate providing statistical information), it has now reached an average of 23.5%.

More specifically, there has been an increase of the “NEETs,” young people who are not in employment, education or training. According to Eurofound — tasked with improving living and working conditions — as many as 14 million young Europeans fall into this category.

Long-Term Effects

The problem has been particularly acute in the European “Southern belt” — Greece, Portugal, Spain, Italy and Croatia — where roughly one in two young people are without a job. Many of the new Eastern European members, including Romania and Bulgaria, also face difficult youth unemployment problems.

In truth, the information produced by Eurostat does not provide a complete picture. First, it only takes into account people aged between 15-24, leaving out many youngsters that entered the job market during the economic crisis.


Read the whole article here

About the Author

The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.

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