(WSJ) In Europe, Signs of a Jobless Generation

Euro-zone youth unemployment will remain elevated for at least the next half-decade, the International Labor Organization said Tuesday, forecasting a small reduction in the jobless rate will come from young people withdrawing from the labor market instead of stronger hiring activity.

The Geneva-based agency of the United Nations projects that 15-to-24 year-olds in the 17-member economic bloc will face jobless rates of nearly 22% in 2013 that will dip modestly to 21.4% in 2017. In the U.S., youth unemployment is forecast to fall from 17.4% this year to 13.3% in 2017.

Long-term youth unemployment has long-term consequences for young people and for businesses, according to the ILO and other labor market experts.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, --European Sovereign Debt Crisis of 2010, Economy, Europe, Labor/Labor Unions/Labor Market, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--, Young Adults

2 comments on “(WSJ) In Europe, Signs of a Jobless Generation

  1. Teatime2 says:

    I’d love to know how the U.S. rate of unemployment in that age bracket will fall 4 percent when Obama just signed off on work permits for 1.7 million illegal immigrant youth.

  2. Cennydd13 says:

    We haven’t seen any signs of that happening in California’s Merced County, where my wife and I live. Our unemployment rate among people in this age group averages 22.5%, and it’s not getting any better.