In the News

Youth unemployment in Europe / It could prolong the crisis says Christine Lagarde says

Christine Lagarde, the managing director of the International Monetary Fund, has warned that long-term prospects for growth in the eurozone look bleak unless politicians act urgently to stoke domestic demand and tackle youth unemployment.

After months of relative calm in financial markets, and with Ireland due to end its painful bailout programme and end its reliance on the IMF this weekend, some European politicians have declared the worst to be over for the 17-member single currency zone.

But speaking at the European Economic and Social Committee in Brussels, Lagarde warned against prematurely declaring an end to the economic crisis.

“Can a crisis really be over when 12% of the labour force is without a job? When unemployment among the youth is in very high double digits, reaching more than 50% in Greece and Spain? And when there is no sign that it is becoming easier for people to pay down their debts?”

She warned that high youth unemployment could jeopardise the economy’s ability to grow in the future, by creating a generation of young people without the skills to take their place in the jobs market. “What is at stake is Europe\’s potential for growth in the future,” she said.

“Unemployment at a young age means a lack of on-the-job training, depreciating skills, and possible withdrawal from the labour market. Experience tells us that long spells of unemployment lead to a less productive workforce down the road.”

Chosen excerpts by Job Market Monitor. Read the whole story at 

Guardian

via Youth unemployment could prolong eurozone crisis, Christine Lagarde says | Business | theguardian.com.

Related Posts

Youth Unemployment in Europe

POSTED BY  ⋅ DECEMBER 6, 2013 ⋅ LEAVE A COMMENT

Youth unemployment has been increasing in the European Union and it is rather a sensitive topic, bearing high economic cost due to the deteriorating effect of unemployment spells on human capital, high social benefits to be paid,  but also high social cost, as for example increasing crime (Bell and Blanchflower, 2010).Youth unemployment rate reached dramatically … Continue reading »

Youth unemployment in Europe / An IPPR report

POSTED BY  ⋅ NOVEMBER 15, 2013 ⋅ 3 COMMENTS

The nature of youth transitions is diverse across different European countries, and is not only affected by short-term changes in the economy such as those experienced in the last five years Continue reading »

Europe / Euro area unemployment rate at 12.2%, 24.1% for youth

POSTED BY  ⋅ OCTOBER 31, 2013 ⋅ LEAVE A COMMENT

The number of people out of work in the euro zone rose slightly in September, according to official data published on Thursday, showing that signs of renewed economic growth have not yet filtered through to the labor market. (via Jobless Rate in Euro Zone Stays at Record – NYTimes.com.) The Official Release The euro area (EA17) … Continue reading »

Europe / Youth Unemployment: A Map

POSTED BY  ⋅ OCTOBER 4, 2013 ⋅ 1 COMMENT

This map from Reuters shows the current levels for the crisis in Europe Continue reading »

Europe / Unemployment stable with only Germany and Austria with Youth Unemployment below 10%

POSTED BY  ⋅ JULY 31, 2013 ⋅ 1 COMMENT

The euro area (EA17) seasonally-adjusted unemployment rate was 12.1% in June 2013, stable compared with May. The EU27 unemployment rate was 10.9%, down from 11.0% in May. For youth, the lowest rates were observed in Germany (7.5%) and in Austria (9.3%)
Continue reading »

Europe Summit / Youth unemployment / Is a guarantee of a job, training or apprenticeship enough ?

POSTED BY  ⋅ JUNE 27, 2013 ⋅ 7 COMMENTS

While the EU agreed in April to re-target 6 billion euro to offer a “guarantee” of a job, training or apprenticeship within four months of someone becoming unemployed or leaving formal education, many think the measure alone isn’t sufficient enough Continue reading »

Europe Summit / Youth unemployment / Is a guarantee of a job, training or apprenticeship enough ?

POSTED BY  ⋅ JUNE 27, 2013 ⋅ 7 COMMENTS

While the EU agreed in April to re-target 6 billion euro to offer a “guarantee” of a job, training or apprenticeship within four months of someone becoming unemployed or leaving formal education, many think the measure alone isn’t sufficient enough Continue reading »

US / Surpassing much of Europe in youth unemployment

POSTED BY  ⋅ MAY 6, 2013 ⋅ 7 COMMENTS

The United States has quietly surpassed much of Europe in the percentage of young adults without jobs. It’s not just Europe, either. Over the last 12 years, the United States has gone from having the highest share of employed 25- to 34-year-olds among large, wealthy economies to having among the lowest. The grim shift — … Continue reading »

Europe’s lost generation / Youth unemployment exceeds 60 percent in Greece, is above 50 percent in Spain and tops 40 percent in Portugal

POSTED BY  ⋅ FEBRUARY 15, 2013 ⋅ 14 COMMENTS

Children across Europe are being driven into poverty by harsh government austerity and youth unemployment is soaring, threatening to create “lost generations” that could fire up a new continental crisis. Global charity Caritas said on Thursday that around three out of every 10 children in Greece, Ireland, Portugal, Italy and Spain are in or have … Continue reading »

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Jobs – Offres d’emploi – US & Canada (Eng. & Fr.)

The Most Popular Job Search Tools

Even More Objectives Statements to customize

Cover Letters – Tools, Tips and Free Cover Letter Templates for Microsoft Office

Follow Job Market Monitor on WordPress.com

Enter your email address to follow this blog and receive notifications of new posts by email.

Follow Job Market Monitor via Twitter

Categories

Archives

%d bloggers like this: