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Almost One Quarter Of European Youths Are Unemployed

Tyler Durden's picture




 

Europe's scariest chart continues to stun and amaze by its scale even as Europe's broad unemployment rate has been stagnant at around 12% for 5 months. While Greece and Spain have seen youth unemployment rates drop slightly from record highs (and its clear the disillusionment has meant people leaving the potential workforce) they remain well above 50%. Italy hovers near its all-time record high around 43% (with overall Italian and French joblessness at record highs) and broad European youth unemployment is stuck at over 23% (as Germany's drops to new record lows). As we noted yesterday, if this is the age of civil unrest then the blue-touch-paper to light is writ large in this chart...

Broad European unemployment has been stuck around 12% for 5 months... with Greece and Spain at the top

 

But it is the youth unemployment rates (15-24) that is truly depressing...

 

Source: Eurostat

 

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Tue, 04/01/2014 - 10:34 | 4613651 Its_the_economy...
Its_the_economy_stupid's picture

war will put them work/

Tue, 04/01/2014 - 10:38 | 4613661 beegle
beegle's picture

Now they wont ... unless Spain decides to declare war to Portugal ... I dont see them getting involved in any wars other than perhaps among themselves , and those wars dont pay very well 

Tue, 04/01/2014 - 10:41 | 4613670 icanhasbailout
icanhasbailout's picture

bubble, bubble,

toil and trouble

eye of newt

tongue of frog

25% youth unemployment

stir it up good

Tue, 04/01/2014 - 10:42 | 4613675 cifo
cifo's picture

Revolution

Tue, 04/01/2014 - 10:44 | 4613680 Boris Alatovkrap
Boris Alatovkrap's picture

Solution is beat citizenry until moral is improves.

Tue, 04/01/2014 - 10:45 | 4613686 prains
prains's picture

advance....or be shot

Tue, 04/01/2014 - 10:48 | 4613697 Pool Shark
Pool Shark's picture

 

 

What's a 'Yout'?

 

Tue, 04/01/2014 - 10:53 | 4613720 Rainman
Rainman's picture

a type of fairy in Finnish folklore

Tue, 04/01/2014 - 11:04 | 4613758 MillionDollarBonus_
MillionDollarBonus_'s picture

The European youth want jobs and they want free education. They're sick and tired of hearing about 'Austerity' and cuts to governmnet spending. Everybody knows that there is plenty of money to go around. How about we spend it on the people for a change? It's time for governments to scrap college fees and create jobs so that the people can get what they deserve. 

Tue, 04/01/2014 - 11:05 | 4613764 Haus-Targaryen
Haus-Targaryen's picture

Everybody knows that there is plenty of money to go around

 

lolokay.

Tue, 04/01/2014 - 11:46 | 4613880 Herd Redirectio...
Herd Redirection Committee's picture

Economically, one of society's biggest current problems is that those who have too much wealth already are making the most money from the system (JP Morgan, GS, HSBC, Lloyds, Barclays...)

That results in MONEY NOT BEING SPENT.

Think about it. 

A man earning $250k gets a pay raise of 10k.

Or...

A man earning $0 gets a job, earning him 10k. 

Which has the greater impact on the economy?

Tue, 04/01/2014 - 20:56 | 4615702 mjcOH1
mjcOH1's picture

"Almost One Quarter Of European Youths Are Unemployed"

Is 25% unemployment really that awful? If half of their youth are unemployable, maybe we should be asking what they're doing right.

Tue, 04/01/2014 - 11:07 | 4613768 IridiumRebel
IridiumRebel's picture

Welcome to Keynes University, London! 

Tue, 04/01/2014 - 10:50 | 4613704 Boris Alatovkrap
Boris Alatovkrap's picture

In Stalingrad, Soviet troop is must run forward to obtain weapon from fallen comrade. Comrade is fallen because Kruschev (Stalingrad party chief at time) is shoot in back of forward defensive line. Is work, no?

Tue, 04/01/2014 - 13:15 | 4614156 Wahooo
Wahooo's picture

Sounds a lot like the American job market.

Tue, 04/01/2014 - 10:50 | 4613698 Sudden Debt
Sudden Debt's picture

can't have that...

let's give them brown shirts and learn them to march and sing songs!

Tue, 04/01/2014 - 10:55 | 4613719 TBT or not TBT
TBT or not TBT's picture

A lot of them have brown skin, thanks to a combination of factors that make kids of Muslim immigrants less employable.

Tue, 04/01/2014 - 11:22 | 4613810 XitSam
XitSam's picture

War never pays well for those that do the fighting.

Tue, 04/01/2014 - 11:02 | 4613750 Canadian Dirtlump
Canadian Dirtlump's picture

War will more thank likely kill a few too - for better or worse the days of regular warfare in Europe are in the rearview mirror. Either way, welcome to the new normal. Grandma and Grandpa take low paying jobs while disaffected youth who are either entitled and waiting for a 100k a year job out of university or just lazy and barely able to write their own name live off of everyone else.

 

Don't think for 1 minute as well that a failed immigration policy doesn't play a role.

Tue, 04/01/2014 - 12:46 | 4614060 Zerozen
Zerozen's picture

Or maybe that's lack of any kind of real immigration policy...

Tue, 04/01/2014 - 13:46 | 4614276 zaphod
zaphod's picture

There is a policy, it is called open door.

The thing the left does not understand is no large scale welfare program can survive for long if you run a open door policy. All the open door policy does is bankrupt the welfare program earlier.

Tue, 04/01/2014 - 13:12 | 4614149 NEOSERF
NEOSERF's picture

Make no mistake about this:  The Central bank printing exercise is a last ditch effort to pacify the great unwashed before they come for the 1% with pitchforks.  Read carefully and you will realize that the Fed, BOJ etc, know that this effort will fail...it is a time-buying effort.  Expect more floating cities, super-yachts and the latest in drone and machine gun manned mansions on hilltops to be big the rest of this decade.  Super rich might go down like Escobar but they won't go without a fight.

Tue, 04/01/2014 - 10:34 | 4613653 kliguy38
kliguy38's picture

that means some battalions need to be filled soon

Tue, 04/01/2014 - 10:45 | 4613684 Boris Alatovkrap
Boris Alatovkrap's picture

"Shovel Ready" job is meaning dig fox hole? ... or shallow grave on battle field?

Tue, 04/01/2014 - 10:52 | 4613713 Sudden Debt
Sudden Debt's picture

I don't think these young kids have ever seen a shovel in their lives :)

Got a app for that?

Tue, 04/01/2014 - 11:15 | 4613789 Doubleguns
Doubleguns's picture

Ipad's make great shovels and there is plenty to go around. 

Tue, 04/01/2014 - 11:11 | 4613779 Canadian Dirtlump
Canadian Dirtlump's picture

In local colloquial parlance a shovel is referred to as a D1 based off of Caterpillar's nomenclature for bulldozers. The higher the number ( d5, d5, d7 ) the bigger the machine. So the vaunted D1 is the shovel you give to the idiot on the work site who is otherwise wasting air.

 

see reference for a d5. I notice it is LGP, that is low ground pressure aka widepad - it has wider tracks for wetter / softer land.

http://twentywheels.com/imgs/a/a/i/f/s/1996_caterpillar_d5c_lgp_series_i...

 

Tue, 04/01/2014 - 11:52 | 4613902 Herd Redirectio...
Herd Redirection Committee's picture

"Give him the D1"

Tue, 04/01/2014 - 14:37 | 4614482 Canadian Dirtlump
Canadian Dirtlump's picture

I present, the Bulgarian D1 shuffle.

 

http://www.liveleak.com/view?i=f4b_1396351017

Tue, 04/01/2014 - 10:35 | 4613656 Its_the_economy...
Its_the_economy_stupid's picture

just wait till chi-com youth have no jobs....and no women!

Tue, 04/01/2014 - 10:45 | 4613687 Its_the_economy...
Its_the_economy_stupid's picture

"comfort women" anybody

 

http://en.wikipedia.org/wiki/Comfort_women

Tue, 04/01/2014 - 11:13 | 4613782 Canadian Dirtlump
Canadian Dirtlump's picture

In modern times that is known as sexial jihad. That is, it is known as that for the noble al quaeda terrorists our tax dollars help support abroad fighting all these noble, irregular undeclared wars.

 

http://en.wikipedia.org/wiki/Sexual_jihad

Tue, 04/01/2014 - 10:47 | 4613692 Boris Alatovkrap
Boris Alatovkrap's picture

You are not see sidebar advertisement on ZH...? There is many beautiful Asian woman... but, come to think, maybe some asian "girl" is not so much "girl". Recommend is always check under hood before drive away new automobile.

Tue, 04/01/2014 - 10:54 | 4613726 dtwn
dtwn's picture

Well, not just youth but fighting age males.  I've mentioned this before, but by 2020, there will be an 'excess' of fighting-age Chinese males of 30 million.  No job, no pussy, no hope no future = expendable bodies for war. . . . . 

Tue, 04/01/2014 - 10:36 | 4613657 Kreditanstalt
Kreditanstalt's picture

One quarter?  Is that all?  Hardly a crisis until 1/4 are EMPLOYED.

Tue, 04/01/2014 - 10:43 | 4613678 101 years and c...
101 years and counting's picture

how to turn an entire generation into slvaes - brought to you by the ECB and German bankers.

Tue, 04/01/2014 - 10:39 | 4613660 Squid Viscous
Squid Viscous's picture

but the PMI's were all bullish, can't they find their way to the factories? Sum Ting Wong...

Tue, 04/01/2014 - 10:39 | 4613662 inky
inky's picture

Yup this financial recovery is in full swing.

Tue, 04/01/2014 - 10:40 | 4613663 Stuck on Zero
Stuck on Zero's picture

This explains why online gaming and social media is growing in popularity.

 

Tue, 04/01/2014 - 10:40 | 4613665 sodbuster
sodbuster's picture

What is youth unemployment in the US?

Tue, 04/01/2014 - 10:40 | 4613666 Spungo
Spungo's picture

This means there's plenty of room for the economy to grow. Bullish!

Tue, 04/01/2014 - 10:41 | 4613671 I Am Not a Copp...
I Am Not a Copper Top's picture

What is a "Yute?"

Tue, 04/01/2014 - 10:45 | 4613688 Skateboarder
Skateboarder's picture

We call 'em 'unpaid interns' in these parts.

Tue, 04/01/2014 - 10:59 | 4613739 TBT or not TBT
TBT or not TBT's picture

When used in French media "jeunes" is a euphemism for carbeques and various violent or criminal street festivity instigators WHEN these are carried out by 2nd and 3rd generation immigrants from Muslim countries.

Tue, 04/01/2014 - 10:44 | 4613682 DeliciousSteak
DeliciousSteak's picture

Meh. Probably kids in government schools collecting government money while fabricating applications to also collect unemployment. Hell, I don't even know how this data is gathered so I have no idea what constitutes as unemployed.

Tue, 04/01/2014 - 10:48 | 4613696 Sudden Debt
Sudden Debt's picture

Summer is comming up. They'll know what to do...

Tue, 04/01/2014 - 10:50 | 4613703 Haus-Targaryen
Haus-Targaryen's picture

So I have this theory. 

Instead of Vlad needing to invade the Ukraine, why not;

1) Dump Billions into anti-EU movements in Greece, Spain and Cyprus
2) Drink Cocktail as government in Greece gets thrown out and replaced with Sexi Lexi or the Golden Dawn
3) EU and US goes bankrupt
4) Take back Ukraine
.

.

.

.

.

.

.

5) Profit!?

Tue, 04/01/2014 - 10:52 | 4613705 Kirk2NCC1701
Kirk2NCC1701's picture

In purely economic terms... if women were at home, then...

> Unemployment would drop overnight.

> Men would once again fucking DEMAND living wages, rather demand that their women worked. 

IOW, "be men" and take on your bosses, rather than your women!

But, ever since WW2, when women were FORCED into factories, etc, we've had this problem.

Tue, 04/01/2014 - 11:55 | 4613912 Herd Redirectio...
Herd Redirection Committee's picture

But it also gave the State the chance to raise everyone's kids, and here we are 60 years later, and we see the results...

Tue, 04/01/2014 - 10:51 | 4613710 Kreditanstalt
Kreditanstalt's picture

Most U-25s are hiding from the labour force in school anyway...

 

Tue, 04/01/2014 - 11:03 | 4613754 cmb
cmb's picture

huh? bad news is good news! buy the fucking dip 

Tue, 04/01/2014 - 11:26 | 4613819 Debugas
Debugas's picture

official policy is to let them die off asap

Tue, 04/01/2014 - 11:53 | 4613903 q99x2
q99x2's picture

That's ok. They can join Gerald Celente and the Revolution against Goldman Sachs, The World Bank, the IMF, the NWO and JP Morgue. Nothing more deadly than young educated populations.

Tue, 04/01/2014 - 11:56 | 4613916 ParisianThinker
ParisianThinker's picture

Thomas Piketty, a French economist, says in his book, "21st Century Capitalism, we are going back to the 19th Century where the only thing that mattered was wealth and the income that generated. Just recall all 19th Century literature where work was not even a consideration unless you were absolutey down to your last cent. Of course, nothing will be done by the billionaires to change any of this.

There will be no jobs for 70% of folks since software and outsourcing will take over completely in the next 3-5 years. 

As George Carlin said, "be happy with what you have, because things will not get any better."

Tue, 04/01/2014 - 11:57 | 4613919 dogismycopilot
dogismycopilot's picture

'war, huh, what is it good for?'

absolutely employing people. 

Tue, 04/01/2014 - 11:58 | 4613921 Iam Yue2
Iam Yue2's picture

Idle youthenslaved to everything; by being too sensitive I have wasted my life.” ? Arthur Rimbaud.

 


Tue, 04/01/2014 - 14:02 | 4614335 pasttense
pasttense's picture

It's not at all clear how accurate these numbers are. Basically a lot of Europeans are listed as Officially Unemployed so they can collect welfare (much more comprehensive in Europe than the U.S.), but actually work part or full-time under the table.

Tue, 04/01/2014 - 15:30 | 4614687 Haager
Haager's picture

There are also some doing an extra session on school (worthless but better than beeing unemployed), some just stay at home trying to fill the day bc they won't get benefits. It too depends on the countries you look at but I tend to believe that the shown numbers are understatements - In opposition to the presented GDP-figures.

Tue, 04/01/2014 - 15:45 | 4614753 Hobbleknee
Hobbleknee's picture

Double the numbers for a more accurate representation of the real unemployment numbers.

Tue, 04/01/2014 - 15:57 | 4614808 no more banksters
no more banksters's picture

A social disaster scenery for neoliberal Europe

Signs of growing inequality between classes and countries

http://failedevolution.blogspot.gr/2014/04/a-social-disaster-scenery-for...

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