Half Of Spanish And Greek Young Adults Are Unemployed
- by Sam Taxy
- November 30, 2011
- 11:58 pm
Though the world economy is still stalled, there have been two definite classes that have borne the brunt of the Great Recession: young people and people living in the austerity-stricken southern European countries. In countries like Greece for example, interpersonal violence and the suicide rate have spiked since the debt crisis started. In America, economists have argued that the generation coming of age in the recession will forever have lower lifetime earnings than those who are just a bit older than them.
Unfortunately, people living in both categories — southern European and youth — are having an especially difficult time. According to new numbers from Reuters (via the Atlantic), the unemployment rates in Greece and Spain for people under the age of 25 are approaching 50%. That’s shocking. For every young adult trying to make it in the job market, there’s another who can’t find a job or a livelihood. Things aren’t much better in other countries with debt problems: Italy, Portugal and Ireland all have youth unemployment rates around 30%.
What’s most shocking is comparing that to the overall unemployment rate in those countries. In Greece, the total unemployment rate is 18.3% and in Spain it’s 22.8%, each less than half the youth unemployment rate — but still disastrous. In countries that are already struggling to that extent, young people don’t even have a chance.
The worst part of this story is that the international community is preventing those countries from helping their jobless youth. Because Greece had to accept austerity measures as part of its rescue package, there’s no safety net for these young people who have little experience or savings to fall back on. These statistics show starkly what the European 99% looks like — young, unemployed and desperate.
Read more:http://www.care2.com/causes/half-of-spanish-and-greek-young-adults-are-unemployed.html#ixzz1fHUwHfPo
As a Greek currently living in England I fully concur with Mireia N point.In fact I believe that our politicians are as useless as how or even worse.Bur despite the problems I won't give up hope and perhaps I will take my chances back in my homeland when I finish...
I am sick, and disgusted from reading the about the results of Wall Street's professional thieves (they are so good, that they require neither a ski mask, nor a gun to rob the entire world). It is criminal that every solution proposed to repair the economic systems worldwide is based upon austerity; only for the middle and working classes.
Was it being austere when Secretary Paulson, (Bush administration) engineered a secret $7 Trillion bailout of Wall Street, of which Congress was never apprised (follow the link to "6 Shocking Revelations About Wall Street's Secret Government"...http://www.alternet.org/story/153274/6_shocking_revelations_about_wall_street%27s_secret_government?akid=7928.293916.4NkSp1&rd=1&t=2)?
People worldwide are being abused, literally unto death (murder and suicide rates are skyrocketing worldwide) while the Wall Street elites (their belief, not mine) tell everyone down below the rarefied heights that this is the way Capitalism is supposed to work. There is only one word I can come up with in response to Wall Street's self-puffery...BULLSHIT.
Was it being austere when Secretary Paulson, (Bush administration) engineered a secret $7 Trillion bailout of Wall Street, of which Congress was never apprised (follow the link to "6 Shocking Revelations About Wall Street's Secret Government"...http://www.alternet.org/story/153274/6_shocking_revelations_about_wall_street%27s_secret_government?akid=7928.293916.4NkSp1&rd=1&t=2)?
People worldwide are being abused, literally unto death (murder and suicide rates are skyrocketing worldwide) while the Wall Street elites (their belief, not mine) tell everyone down below the rarefied heights that this is the way Capitalism is supposed to work. There is only one word I can come up with in response to Wall Street's self-puffery...BULLSHIT.
That's the conditions for revolution developing.
Thanks for the article.
I do know. In fact, I am Spanish and I live in England now. I miss my family and friends terribly but our politicians are just so useless. So many highly-qualified young Spaniards are leaving against their desires, so much money has been spent on our education and now we just can't help our country. I really hope all of us who want to go back to our countries can do it soon and in decent conditions.
unfortunate indeed.
thanks for sharing
Read more: http://www.care2.com/causes/half-of-spanish-and-greek-young-adults-are-unemployed.html#ixzz1fHZahSiC
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