Europe's Scariest Chart Leaves 1 in 4 Young People Unemployed

Tyler Durden's picture

While near record low sovereign bond spreads and near record high equity prices have been taken as vindication by the European elites that all is well and 'we just need a little less fauxsterity' to be done with this crisis; the data, as it so often does, says the exact opposite. European unemployment just broke above 12% for the first time ever and European youth unemployment remains miserably above 24%. And while 1-in-4 under-25s unemployed is a bad enough statistic in terms of likely emergence of social unrest, the individual countries are in general deteriorating once again at a faster rate. French youth unemployment has risen for 13 months in a row to a record 26.5%; Spain (at 57.2% of under-25s unemployed) is catching up fast to Greece's stunning 59.1%; but perhaps the most concerning for the broader economies is the fact that Italy's youth unemployment has now topped that of Portugal at 38.4%. The only nation to see a drop in its youth unemployment was Ireland - which fell back modestly to January levels. Not a rosy picture, but then again, it doesn't matter...

Ugly...

 

and even worse for the youth...

 

but does it matter?

 

Charts: Bloomberg

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
GetZeeGold's picture

 

 

 

Socialism......rocks.

TideFighter's picture

CIA employees are outing Obama, he is in full damage-control mode. Skeeter to give press conference at 10:15 a.m. This appears to be big, big, big.

Sudden Debt's picture

like that will ever happen... it will probably be something about that Alien invasion thing...

GetZeeGold's picture

 

 

Alien invasion thing

 

That's a pretty big freakin deal.....right up there with gun control. Four percent of the population is pretty freaked out about both topics.

 

We are talking about outer space aliens here......right?

francis_sawyer's picture

Who do you want to work for anyway?... The government?... No thanks... I'd rather be destitute...

GetZeeGold's picture

 

 

Well.....we just lost Noam Chomsky.

 

Things are looking worse by the minute.....

Noam Chomsky: Obama’s Inexplicable ‘Attack’ On Civil Liberties ‘Goes Well Beyond Anything’ Imagined

http://www.mediaite.com/online/noam-chomsky-obamas-inexplicable-attack-on-civil-liberties-goes-well-beyond-anything-imagined/

AlaricBalth's picture

Alien invasion? Oh my! Paul Krugman just had an orgasm.

GetZeeGold's picture

 

 

 

False alarm. It's just another bug hunt.

 

REPORTER CALLS 'RIGGED GAME'...

http://www.weeklystandard.com/blogs/obama-take-questions-press_720211.html

the not so mighty maximiza's picture

they would never risk their pensions.  Thats the way they roll.

kridkrid's picture

Socialism may suck, but debtmoneyexponentialism is to blame here.

ATM's picture

It's Authoritarianism cloaked in feel good socialism. 

Poor kids have all been indoctrinated to beleive socialsim is the answer for the future but it only places power ina few hands and locks them into a life of servitude.

How long before the Europeans start the youth brigades and forced national service? Grab a shovel Giovanni, Alexander and Raul. You got some digging to do.

NEOSERF's picture

Seriously it would be nice to see just HOW these countries measure this statistic which is so manipulated here.  Perhaps the numbers are better as the unemployment safety net there has no end and so people are correctly counted forever?

Ancona's picture

Who needs a job when Obama says I can have TANF, SNAP, WIC, a free phone, subsidized health care and a raft of other free shit like rent control apartments, free child care, etc. I may work for cash from time to time to support my gambling habit and drug addictions, but other than that, it's X-box time bitchez!!

Cyprus? that's a kind of tree dumbass.....why the hell would I be worried about that?

DormRoom's picture

Cheap credit, and QE mostly pulls demand forward, robbing youth of future properity.  The new class struggle is between #baby boomers and the rest. 

GetZeeGold's picture

 

 

Fella could have himself a pretty good weekend in Vegas with all that stuff.

http://www.youtube.com/watch?v=F5qqfsQGYus

venturen's picture

Just like Europe...that worked out well didn't it!

jubber's picture

I would have thought the decline in Ireland is due to a mass exodus

Ribeye's picture

Correct, there are loads of Irish youngsters down in Oz and NZ,

Also the Irish numbers are heavily sautéed,

There's tons of kids on govt "training schemes" who are not counted as unemployed,

And soon, the scum unions are going to bring the entire public sector out on strike,

Doubleplusgood:)

Sudden Debt's picture

first is was... but they keep sending them back to Ireland...

 

buzzsaw99's picture

...yore young and you got yore health, what do you want with a job? [/evelle]

Mercury's picture


The EU’s new, International anthem.

jeebus's picture

There was a good documentary Vice did on Europe recently. Pretty scary stuff.

 

There is a "Youth with no future movement in Spain." All 20s younguns. They have no jobs. So they decided to graffiti the city of Madrid, trash ATMs, break things. Because, why not? 

 

In Greece, the Golden Dawn uses a sideways swastika and openly does the nazi salute. They have a propaganda book of Joseph Goebbels. They are known to target immigrants in the streets. 

 

As one of the Greek anarchists said who is "fighting" the golden dawn in a "street war"

 

It's just like WW2 all over again. The system reaches to the far right to defend itself. 

 

 

kridkrid's picture

The monetary system has reached terminal velocity, yet it requires perpetual growth... that's a problem that has no solution.  It's just like WW2 because it is just like WW2... there will be something new on the other side of WW3.  Maybe something bad... http://www.youtube.com/watch?v=tOEJvjK8TM0

Lebensphilosoph's picture

Excuse me? The system? Don't make me laugh. And your anarchist ... obviously such a wonderful little chap. Aren't all communists?

jeebus's picture

It's people's natural instinct to survive. It's scary. Nothing to do with politics really.

kridkrid's picture

Exactly right.  And it doesn't matter if this is by design, or human instinct, the result will be the same.  I think it's a little bit of both... some design with the recognition that human instinct will take over.  But here is the trick... just make sure that whatever factions do arise, their anger must be focused on other factions, not the real culprits.  Anarchists vs. socialists vs. fascists vs. communists vs. whatever other -ist you want to throw into the mix.  Just keep them all away from the bankers.  Our Fisher Price version of this is Republican vs. Democrat... but that will soon give way to something more overtly violent, I believe.

THE DORK OF CORK's picture

The young Irish rednecks are generally leaving these shores.

That may explain the above numbers.

 

However the population is not falling.

External workers in their 20s & 30s continue to look for any scraps available in the Irish economy.

 

Its the general plan of the fat controllers - a extraction of domestic labour value by any means .

 

When the Turks enter the Euro 9th circle things will only get worse for us.

 

 

Dr. Engali's picture

I heard China is looking to cut labor costs so they are going to start outsourcing to Spain.

AynRandFan's picture

If only.  The Eurotopians will never drop the minimum wage no matter how many people are unemployed.

NoDebt's picture

Neither will we.

Don't forget that Europe is what the current administration is copying as it's blueprint.  Great fucking model to copy, huh?  Look there, close your eyes and count to 20.  Then it's here.

kridkrid's picture

You are on the wrong track.

ak_khanna's picture

Unemployment in Europe is rising because the politicians elected by them make rules for the benefit of and work for the real rulers of the world, the top richest 1% of the population and the major contributors to their election fund.

They bail out the bankers and the rich corporatio­­­­­­­­­ns (who should not be in business because of their incompeten­­­­­­­­­ci­e­s­) without even changing their previous management because they fund the election campaigns and also place them in their organisati­­­­­­­­­on­s at exorbitant salaries once they leave office. This class alongwith the rich individual­­­­­­­­­s pay the minimum amount of tax while getting the maximum benefit of the tax collected from the rest of the population in the form of bailouts.

The rest of the population is least of their concerns. The only activity they do is pacify the majority of the population using false statistics and promises of a better future so that they do not lynch them and their masters while they are robbing the taxpayers.

http://www.marketoracle.co.uk/Article35345.html
www.letstalkmoney2012.in

Smegley Wanxalot's picture

Well if the under-25 crowd there in Europe is like the college-hires here at my office, who all prefer to update their facebook pages while on the job all day rather than do their work, then having them unemployed isn't costing society all that much if society does the right thing and cuts their benefits too.

Sudden Debt's picture

NO FUCKING SHIT!

Whenever I walk through the office, I constantly see these young kids with their iPones texting and surfing.

And than I remember the evaluations every year where they ask for raises that are  just insane. They want more money but whatfor?

Every year we need to coach 2 young potentials and we can pick them out of the workforce.

I just can't find any! AIRHEADS!!

And the way you can piss me off during a brainstorming meeting with a topic like for example "increase sales topics"

EVERY FUCKING ANSWER IS: WE SHOULD DO MORE GOOGLE ADDWORDS! I'VE READ THEY WORK!

YEAH! NO SHIT! MAYBE THAT'S WHY I NEVER SAW ANY REAL RETURNS ON THOSE!

AAAAAAaaaaaRRRRhhh!!!

THEIR DATASET IS SOOOOooooo FUCKING SMALL!!

AND THEY ARE ALL SO CONVINCED THEY KNOW SOMETHING YOU DON'T!

And like 5 minutes ago, I gave some young kids a few tasks....

they're like 20 meters from my desk and all I HEAR IS: PPPPPPFfffFFFfffffff...Ffffffffff

WTF!!! LAZY BASTARDS!!!

AND IT'S NOT LIKE I'M ASKING TO DO SUCH HARD TASKS!!!

DATA ENTRY AND CROSS LINKING OF FUCKING SIMPLE EXCEL FILES!!

IT TOOK ME 30 MINUTES TO EXPLAIN THOSE MORONS WHAT TO DO!!!

AND IT ONLY TAKES ME 2 MINUTES TO DO IT BY MYSELF!!!

AAAAQAaaarrrRRRRrhhhh!!

WHEN I WAS THAT YOUNG I COULD DO ALL THAT SHIT LIKE A PRO!!!

 

and yesterday...

I learned this young guy some stuff in SAP....

TODAH HE CAME TO ME, NO WITH ANY WORK THAT WAS DONE!!!!

NO!!!!!!!!!!!

THE MADE A DRAWING!!!!!!

A DRAWING ON HOW SAP SHOULD LOOK LIKE BECAUSE THE INTERFACE DOESN'T LOOK COOL ENOUGH!!!!!!

IridiumRebel's picture

Testify! When they lose their jobs too, they'll long for these days when they're bussing fuckin tables. "Sir can I get you more soda?"

Sudden Debt's picture

DO I LOOK LIKE THE KIND OF GUY THAT DRINKS SODA?!

Acet's picture

Well, your picture seems to indicate over-consumption of cafeinated drinks.

Acet's picture

The other day there was this article in the BBC website about how young people come out of school with tons of confidence which is totally unproven, to the point that a lot of them are pretty much just narcisists (link http://www.bbc.co.uk/news/magazine-20756247).

Clearly it's not just in the UK that the "Everybody is a special flower" kind of education has produced a generation of people who have huge belief in their own self worth (and the acompanying sense of self-entitlement and expectation that the world will just give them what they want) without having ever proved their worth in the real world in any way whatsoever.

 

FlyingDutchman's picture

Sorry, but I see no difference in numbness and stupidity with the older generation.

The stuff we're talking about here on ZH is absolutely off the radar for 99.99% of the people I meet.

Sudden Debt's picture

Agreed, most people who I show Zerohedge quit reading after a few articles because it's to heavy.
Even to those who claim to have a interest in economics.

PontifexMaximus's picture

that's what Europe needs: the higher this rate, the better for the markets, they all have their mobile phones with their twitter and facebook accounts, so, no worry, they know how to spend the day. SS will come up for the fees.move along.

Van Halen's picture

Europe may be in trouble, but there's no more unemployment for California now that they've got High Speed Choo Choo!

And look who's husband got the contract:

http://michellemalkin.com/2013/04/27/firm-dianne-feinstein-husband/

GetZeeGold's picture

 

 

Boom......WINNING!!!

The Second Rule's picture

Peak oil leaves 1 in 4 unemployed. and it will leave 1 in 3 unemployed, then 1 in 2, then 1 in 1. And still you fuckers won't get it. It's about energy.

smacker's picture

 

I'm not aware of any credible evidence that "it's about energy", although I do believe energy is an important factor in where we are and political elites are in denial about it, as they have been for 15 years. Energy shortages are virtually a taboo subject inside the corridors of power in the UK & EU and of course the MSM Daily Slime.

Recall that during his first presidential campaign, Obama made great play about "getting America off oil" and promised to drive R&D of new, clean, green energy. Since then he has done very little of value in this area, preferring to focus on turning American into a socialist/fascist police state and using every dirty trick in the book to violate or by-pass the American Constitution.

My personal view is that the current crises is not caused by "Peak Oil", but recovery will be held back by it. But even that assumes the criminal political elites and their criminal cronies in central & commercial banking eventually produce a set of policies which open the way for recovery. That is unlikely in the foreseeable future.

LawsofPhysics's picture

"My personal view is that the current crises is not caused by "Peak Oil", but recovery will be held back by it." - Your personal view is irrelevant.  Go talk to an engineer in the industry.  World production has been flat since 2007 and each barrel being delivered is requiring more energy and capital input.  When the energy and capital input to recover a barrel of oil is less than the energy and capital returned, no company in their right mind will be in the business any longer.

from a common sense perspective it takes energy to do/manufacture/deliver any real fucking product.  Unless you consider financial "products" of mass destruction real products, I sure as hell don't.  No energy, no economy, period.  do you really think the energy available for consumption to mankind can continue to expand indefinitey?  Good fucking luck with that.  Full disclosurer;  I am long sharecropping and companies that manufacter riot gear.  7+billion people (and growing) competing for a better quality of life (that requires consumable energy).  Is the available consumable energy growing at an equal pace?  Please, use some common sense, humanity isn't just another ponzi, it's the ponzi.  Allocate your resources and capital carefully or die.  It's that simple.

smacker's picture

Whoooaaa. Teaching granny to suck eggs will get you nowhere.

FYI: for brevity, I did not add in my previous post that "my personal view" is derived from 8-10 years of following Peak Oil, so it's not irrelevant.

But unlike yourself, I do not allow the issue to cloud my evaluation of the problem. And I'm very well aware of EROEI issues, thanks. And also the alleged high level of water cut from Saudi's Ghawar oil field, revealed by Matt Simmons before his untimely death. etc.

But the issue I was responding to before was whether "it's all about energy" as the previous poster asserted. I don't believe it is. That's too simplistic. But it is ONE OF THE ISSUES and that is why I also said that energy issues will hold back economic recovery, assuming that the criminal elites ever put in place the right policies.

Jayda1850's picture

I can't take it anymore, and I'm sure markets will close at all time highs. I'm gonna eat some mushrooms and watch Baraka. Sadly, its the only way this bizzaro world makes any sense.

BandGap's picture

At first that sounds like fun, but when the ship goes over the falls I want to have my wits about me.