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EU youth jobless crisis - the human cost

EU youth jobless crisis - the human cost
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Tepid economic growth in the European Union and people working longer as pension ages are raised means 5.6 million under the age of twenty five are without work in the region.

And it is getting worse, in the last four years the overall employment rates for young people declined three times as much as for over twenty fives.

In Greece and Spain the youth jobless rate is not far off 60 percent, according to the latest statistics.

In the wider European Union, the figure is 23.5 percent.

At the other end of the scale just 7.7 percent of young Germans are without a job.

Youth organisations and trade unions told the Paris meeting’s host – President Hollande – more needs to be spent on the problem.

“We are calling for a more social Europe that addresses its responsibilities in terms of social matters and employment, not only in terms of budget cutting,” said Thiébaut Weber, President of the European Trade Union Confederation Youth Committee.

July’s jobs summit in Berlin proposed spending six billion euros over the next two years.

The European Foundation for Living and Working Conditions estimates the cost to the EU in benefits paid out and lost output is over 150 billion euros a year from having so many young people not in work or education or training.

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