EconoMonitor

Europe’s Scariest Chart Just Got Scarier-er

We were the first to note the dire state of youth unemployment in Europe here, and reiterated here, as this terrible social situation just goes from bad to worse this month. Whether youth unemployment is a proxy for sales of PlayStations or for the much more critical likelihood of widespread social unrest and eventually the dissolution of Europe’s political compact is unclear but one thing is for sure – Europe’s leaders will be watching this chart and quaking as nation after nation breaks to all-time high levels of joblessness for the critical tinder-box of Under-25 year-olds. The Euro-zone youth unemployment rate is back over 22% for the first time since September 1994. With Spain and Greece over 50% (and rising) and Italy now joining Ireland over 35% at the same time as Germany’s youth unemployment falls below 8% for the first time since May 1993 – one can only surmise the rising tensions between the haves and the have-nots (even as Germany’s PMI disappoints).

For comparison, the US is not exactly sunshine and roses, with 16-17 year-olds back near 30% unemployment and 18-19 year-olds back over 22% – even as 20-22 year-olds improve gradually.

Charts: Bloomberg

This post originally appeared at Zero Hedge and is posted with permission.

2 Responses to “Europe’s Scariest Chart Just Got Scarier-er”

princess1960May 2nd, 2012 at 10:11 am

i read this post and even befor ..unemployment in GR yougth is ready 50%..in EU 24% not 22% so we are one very good family . what to do?change politice ,change structure economic .,change education (and this is very important) why?i have my dautgher in colleg ..so if she doesn't finish very good -excellent ,after finish she have to work saler-women some shop (not to wait for one office) because she get Barcelor ok..OFFFICE IS FOR VERY HIGHE education ..AND parente have money don't pay for diplom with out deserve ..i think to work in public sector every one have to pass test ..and for privat sector ..
the big gama young people is not highe school ,,but like to working somewere in public sector because there have privileg this is despropotion and very bad ..
agroculture need young people for work .. Small busniesses haelth system help to much women's force..and the end litell inflation is not bad compere unemployment.. you see to much changed neede but first in minde of everyone thinking life is easy and money come easy (specialy for young generation ) just excellent students have place for office.. thank you

WhitakerMay 2nd, 2012 at 11:47 pm

The Germans especially should know what happened the last time there was wide-spread youth unemployment and disaffection. Idiots.

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