One in Two Youth in Spain is Unemployed

Business Insider’s Chart of the Day for May 2^nd highlighted a graph from Scott Barber and Thomson Reuters depicting youth unemployment rates in Europe.  Greece and Spain both possessed the highest rate, with more than one in two youth being unemployed.  These two nations are followed by Portugal Italy, and Ireland, with youth unemployment rates of 36.1%, 35.9%, and 30.3% respectively.  Germany, on the other hand, has weathered the economic recession quite well, and its youth unemployment rate has actually decreased since the recession began.  In comparison to the United States’ 16.4% rate, Germany, Malta, Austria, and the Netherlands are the only nations in the EU27 with a lower youth unemployment rate.  Overall, the Euro area possesses a 22.1% youth unemployment rate.