There’s a serious and growing problem in Europe among the under thirty year olds who are not working. In what is referred to as not in employment, education or training (known as Neets) the financial cost is enormous, but as we know, the financial costs are only part of the problem.

Youth unemployment in France is in the mid twenties but it’s considerably more serious in Greece and Spain, where the rate is at least twice as much. In all likelihood the number is only going to get worse in the coming years before it improves. There are no easy answers and with austerity, it’s only more cruel.

This is not a matter of kids not wanting to work, but a structural problem where the work doesn’t exist. Adults in the prime of their careers are struggling with historically high unemployment rates but many under-30 years olds will struggle for years to settle into work. Besides growing up without any opportunity and the social system costs, there is also going to be a significant loss of income generated by this generation for the state.

The Guardian: