Asked by journalists during her press conference Friday afternoon 27 June, Merkel said that youth unemployment is “clearly” one of the areas that needs to work better in the EU.
Youth unemployment has been emphasised as one of the next Commissions key priorities together with energy security, strengthening the monetary union, foreign policy, and migration.
Between 2007 and 2013, youth unemployment reached record highs across Europe, dramatically increasing from 15.7% to 23.4%, according to Eurostat. Currently, around 5.6 million young Europeans are jobless. In some countries, youth unemployment rates have reached critical levels, such as in Spain 55.5% and Greece 58.3%.
Chosen excerpts by Job Market Monitor. Read the whole story at Merkel admits EUs youth unemployment initiative has been a failure | EurActiv.
Youth unemployment is rising steadily in the EU as the economic crisis in Europe deepens. The latest data reveals an EU-wide youth unemployment rate of 22.8 percent, up from 21.7 percent a year ago as those under 25 continue to lose their jobs to the economic slowdown… Click here to see each country’s unemployment stats … Continue reading
The EU underestimated just how big an impact the austerity measures would have on the economies of the member states. Europe’s economy remains relatively closed, which means that countries rely on trade with each other, so when countries all start to tighten fiscal policies at the same time, the impact is multiplied. Not surprisingly the … Continue reading
Last year, as part of the Multiannual Financial Framework (MFF) 2014-2020, EU leaders agreed to provide an additional €6 billion to support employment of people under the age of 25. The so-called Youth Employment Initiative (YEI), or Youth Guarantee scheme, now plays a crucial role in the EU labour market, with the additional funding frontloaded for the first … Continue reading
“The problem is jobs, jobs, jobs,” Gurria said in an interview with Bloomberg Television from Davos, Switzerland Continue reading
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 … Continue reading
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
A Conference on Employability of young people by the Consultative Commission on Industrial Change, European Economic and Social Committee Continue reading