Youth Student Graduate Employment in Europe
Comment from Global Compass on prospects of younger generation of Europeans, not very optimistic:
By Global Career Compass on November 20, 2013
We’ve all been aware of the un and under-employment of recent college grads in Spain and Greece whose unemployment rates for people ages 15-24 is staggering at 55% and 58%. But what about the impact of the economic crisis in Europe upon the personal dreams and aspirations of college-age youth and recent graduates? This story in the NY Times paints a very bleak and sad picture: http://www.nytimes.com/2013/11/16/world/europe/youth-unemployement-in-europe.html?_r=0.
“Dozens of interviews with young people around the Continent reveal a creeping realization that the European dream their parents enjoyed is out of reach. It is not that Europe will never recover, but that the era of recession and austerity has persisted for so long that new growth, when it comes, will be enjoyed by the next generation, leaving this one out.”……
….. The story states that Spain has lost something like 100,000 university graduates and hundreds of thousands have moved to Germany, Britain and the Nordic states looking for work in engineering, science and medicine.
This chaos and disruption in the lives of so many young adults throughout Europe has untold consequences. Perhaps it will mean the delayed pursuit of careers and the resulting loss in wages along with a lack of skilled labor in important professional roles for many years to come.
We need to pay attention to what is happening to this current generation of students in Europe. The impact will be felt in our own society and global businesses.”
Inter generational friction with older generation, in some cases a bubble nearing retirement, can hold politicians to ransom in the short term while younger generations miss out…. e.g. pensions supported but unemployment benefits not.
However, all is not doom and gloom, e.g. 400k Hungarians have left Hungary in the past 3+ years but looking at this positively it means (if eligible and available) they won’t take benefits from home, they improve their soft skills including communication and technical, and can bring ideas back to their home country to start new businesses or apply different approaches.