Europe – Unemployment – A tragic past

Just like in the 1930s, when the Great Depression caused youth unemployment to hit the 50% levels in Germany, the current financial crisis is wreaking havoc on young people.

Young people are always hardest hit due to their lack of work experience. This is now accentuated as the youngster from Athens competes directly against the math genius from Bangalore.

The new phenomenon of a global work force has resulted in a far more competitive job market. Perversely, widespread connections through internet and social media, coupled with the global embrace of consumerism, have raised young people’s aspirations to all time highs, resulting in a devastating effect when reality hits…

via Europe’s rising unemployment raises fears of a tragic past – Business 360 – CNN.com Blogs.