Youth Unemployment in Europe Is "Scary"

Zero Hedge, a US financial blog, included what it referred to as “Europe’s Scariest Chart” in a post Tuesday. Rather than European debt or bond prices, as one may expect, the chart shows the unemployment rate of those 16-24 year-olds in Spain, Greece, Portugal and the entire Euro Zone. As the chart shows, the youth unemployment rates increased sharply for Spain and Greece in 2008 and have continued to climb rapidly while that of Portugal and the Euro-Zone as a whole remained comparatively stable. Currently, youth unemployment is highest in Spain and Greece at 51.4% and 46.6% respectively. That of Portugal and the Euro-Zone is quite a bit lower at 30.7% and around 20% respectively. This chart is the “scariest” because, according to Zero Hedge, “the last thing Europe needs is a discontented, disenfranchised, and devoid of hope youth roving the streets with nothing to do.”

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