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EU27 Youth Unemployment Hits 23.5%
We are told that it’s the youth that is our future. These are the people that supposedly will be governing us one day not in the not too distant future when we sit comfortable doing whatever we have to (or rather, will be able to) do as retirees. That means we will be probably grafting hard to pay for the money that the state won’t be able to pay us because the pensions have all gone topsy-turvy and we won’t be sitting on the stash of cash like some people might have been able to do in the past.
But, when those young people of today get to power (if by some pure stroke of luck there is any money left) will probably turn around and say something like this: “Where were you when we needed you?”
How right they will be! New figures that have just been released on youth unemployment in the EU27 have seen an increase yet again for the first quarter of 2013. Unemployment for young people aged between 15 and 24 edged higher yet again and now stands at 23.5%. And they dare tell us that we are seeing an improvement in the economic situation, that the light at the end of the tunnel?
Perhaps they should ask nearly two thirds of Greeks in that age bracket (58%) that are not currently in employment. Spain comes in at a close second place with 55.8%. What sort of prospects do those young people have? It’s probably not surprising that unemployment in the top four countries in the ranking are those that have the worst economic situation, at the present time. Portugal is third with a figure of 38.2%, closely followed by Italy in fourth position (36.9%).
In the top ten countries that are suffering from high unemployment for young people seven of them belong to the Eurozone. Clearly, the knock-on effect has had drastic consequences for young people. But, it’s high time that Mrs. Merkel, Mr. Hollande and Mr. Cameron (to name but a few) actually took decisions that were going to create jobs. At the present time, we can only see budget cuts and austerity measures. We hear of how we must grin and bear it and hold on and things will get better. France has an unemployment rate for young people aged 15-24 years old at 26.3%. The UK has 20.6% of its youth unemployed at the present time and Germany is the best of the bunch (top of the class?) with just 7.6%.
While youth unemployment has increased in overall terms across all countries, it has in fact, however, declined in Germany, Austria and Finland, for example in the past three years. There are some out there that are saying that youth unemployment is a myth, however. Perhaps they might like to jump on a plane to Greece or Spain and ask the young people there.
Greece has 39% of those that are in this bracket that are long-term unemployed. Spain stands at 35.6% long-term unemployed. Germany has 23.3% of long-term unemployed. That means unemployed for more than 12 months. This is not a myth. This is not scaremongering. This is the reality of people aged between 15 and 24. In the majority of countries of the EU, we have a ratio of young people to total population that represents approximately 7%.
Merkel and Hollande think that they have the answer (but don’t they always?). They have announced a plan that will save the youth of the EU27. It has just been unveiled in Paris. They are going to provide cheaper credit to companies in the EU and thus ease unemployment for the youth and create jobs (on a massive scale no doubt). Higher company financing has been the object of all criticism from both the German and the French Finance Ministers (Schaeuble and Moscovci). That’s what’s stopping economic recovery. Easy! Why didn’t we think of that way before? The Franco-German solution is to get the EIB (European Investment Bank) to leverage 6 billion euros (nearly $8 billion) to yield 60 billion euros in loans for SMEs. The EIB is already on target to release more than 70 billion euros in funds between now and 2016 to boost the EU.
There are 6 million unemployed young people in the EU today. The answer for Merkel and Hollande is to make money available, increase availability of loans and that will generate business and create employment. If it were that easy, we would have done it long ago. Create as many loans as you wish Mrs. Merkel and Mr. Hollande, but will that create jobs? It’s not throwing money at companies that creates jobs. It’s far more complicated than that. Hollande already promised to create 150, 000 jobs for the young as an electoral pledge. He hasn’t succeeded.
Changing the system in various countries might mean that young people get better chances of being employed. France has the highest rate of university education in the EU (42.8%), but that hasn’t stopped the youth becoming unemployed. The countries that have the highest rates of unemployment for young people are those that are the most educated, in fact. They have young people that are over-educated and a limited supply of jobs in certain sectors. Young people out-bid themselves in the market and they are over-qualified in the race to get more and more university degrees. Greece has 30.9% of its young people that are university educated. Spain is at over 39%. They offer few programs of apprenticeship (contrary to Germany, which has a low unemployment rate). Manual jobs are looked down upon in countries like France, where you have to go to a Grande École. It’s a shame that the jobs are not so grand at the end of it for the youngsters of today!
Originally posted http://www.tothetick.com/youth-unemployment-in-eu
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They will have jobs. They'll be soldiers for the war. The soldiers will need medical, food, tools will need to be made. The war will fix this problem promptly, just not sure when it's going to start.
All this and Europe hasn't fallen completely apart yet. Which indicates we are a long way from any collapse scenario in the US.
The reality is a slow-motion collapse, and we've been in it for about 6 years. We have 9-12 years to go to work through it. It is passing right before our eyes and most don't even know.
And now that the bond market has sunk Bernanke's smoke and mirror game that he actually controls anything, new opportunities will appear.
There are always opportunities. That's why the largest fortunes are made during the worst of economic times.
Don't worry. It has already been planned.
They've a projet for all of us.
"Economic NATO"
http://www.acus.org/publication/transatlantic-trade-and-investment-partn...
And the "Mapping"...
http://www.acus.org/publication/trilateral-bond-mapping-new-era-latin-am...
The solution is even more free trade?
With what? We hardly produce anything anymore.
How right you may be. Look at where their money is coming from, both government/academia and corporate. What is happening world wide today was set in motion over 100 years ago, with granting tax exempt status for the transfeer of great fortunes to un accountable enteties such as foundations and think tanks. Look at the amount of money involved. The one world government crowd is well lubricated and well fed. The best, most pliable and well educated brains possible, have been bought and willingly enlisted to serve the globalist agenda.
You think the sheeple know what is going on, much less being able to stand up to the constant stream of propaganda?
Are drug dealing and petty crime considered jobs?
When these "youth" will finally accede to power, they'll have a blast in cutting the pensions and all welfare support for the surviving retirees f*ckers that are making their lives miserable right now.
Their revenge will taste sweet, and will be well deserved...
By the time they get there they'll be beefing the pensions up...
in fact because most retiree wannabes won't have enough years of work experience to qualify they'll probably loosen the criteria for pay as you go pensions.
The youth doesn't need to work. They have credit cards and unlimited low-interest loans.
When the government in any/all forms reduces your take home to less than half, is it any wonder?
Actually, that's a pretty astute observation. As people become more educated, certain jobs "are beneath them". The US has a problem that is being solved by illegal immigrants, because American's don't want to do the back-breaking, hard-labor manual jobs that are available.
Try to get a US worker to dig ditches at $8/hour. You'll be lucky if they last the hour. You'll be even luckier if they last the day and actually come back the next! We have high school dropouts that are demanding $12/hour plus benefits because "they can't live on minimum wage."
American's are coddled, swaddled and have their noses so far up in the air that they wouldn't know work if it bit them on the leg. I've actually had workers tell me that showing up for work "most of the time" is a good performance! One guy missed two days in his first two weeks and thought he was doing "great". I had to point out to him that missing a day a week on the average meant he was going to have 52 days a year off or more than 10 weeks!~ I've worked 19 years and only get 4 weeks.
There is a lack of work ethic in this country, people think they are "owed" a 3bd,2bath home with CA/CH, a two car garage, satelite and High Speed INternet, a 60" flat screen with Dolby Sound, a fully stocked kitchen and a bar-be-que deck out back next to the in ground swimming pool. All without having to work a day in their life.
earnulf: "... astute observation ..."
From the other side of the world (though I would argue that to a point, our country has similar complaints to yours), I have observed differently. I am a uni drop-out. Yes, some uni graduates / dropouts are lazy or whatever, but so are high school dropouts. While still at high school, I was "lazily" studying hard and working after school and on weekends, and alot of my work came from filling in for other kids that took time off the job to "busily" go to parties. Uni students are lazy? Alot of people, who couldn't be bothered studying hard enough get in to uni, think so. Through my twenties I applied for over a thousand jobs, got over a thousand rejections, but when I finally got a job it was minimum wage, hard work (but enjoyable hard work). I lasted over 5 years (and then got a trade) where others lasted weeks. One guy (ex-navy) only lasted one hour! So I take great offence to the "lazy uni drop-out" stereo-type. If I only wanted to be a dole-bludger then I wouldn't have studied that hard. Duh!
But let's get back to those who "won't do the low paid jobs". I refuse to expect people to do a job that cannot pay them enough so they can afford to come back tomorrow. Just like a business can't (shouldn't????) exist without a profit, people can't work if they are going backwards. I am a firm believer that if I can make a good income, then others will want to copy me. So if I'm struggling to earn SFA, I can't expect others to copy me. Maybe the guy who left after one hour wasn't lazy. Maybe he was just awake!
as the money velocity drops, so will the participation in labor. they both will remain low until the interest rates break free from central banker suppression. god knows for how long, it could be a decade. free interest rate discovery may mean death to fiat currencies.
Manual jobs are looked down on in countries like France..
So getting your hands dirty is worse than being broke? Geesus.
Start a business! Oh, can't get your hands dirty.