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Spain and Greece Compete for Worst Youth Unemployment in EU (Wait Until You See the Numbers)

Jan. 25, 2013 9:05am Becket Adams

As German Chancellor Angela Merkel addresses world leaders at the World Economic Forum, Spain and Greece continue to compete for the title of “Worst Youth Unemployment in the EU.”

Spain’s unemployment rate jumped to a record 26 percent in the fourth quarter of 2012, with youth unemployment peaking at 59.8 percent, the country’s National Statistics Institute said Thursday.

At this time last year, the youth unemployment rate in Spain was 50 percent.

Meanwhile, recent data shows Greece’s national unemployment rate has risen to 26.8 percent, the highest in the EU, with a youth unemployment rate of 60 percent, according to reports from both The Telegraph and the BBC.

Luckily, these rates — more than double the average in neighboring EU countries — have not gone unnoticed by Euro leaders. Indeed, even Chancellor Merkel noted in her Davos speech that one of the biggest “burdens” weighing on the EU is its youth unemployment.

Greece & Spain Almost Tied in Record Shattering Youth Unemployment Rates

Courtesy Zero Hedge

Obviously, the EU must address its long-term youth unemployment problem. As noted by both TheBlaze and Zero Hedge, the last thing the 27-member union needs right now is hordes of politically disillusioned, angry, and unemployed youths roaming the streets. That’s when things start to get dangerous.

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Featured image courtesy Getty Images. This post has been updated.

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Comments (24)

JoeSix-Pack
Posted on January 26, 2013 at 9:45pm
The BIG question is: When will this reach critical mass and blow up?

The U.S. may be heading in this direction, but we are not as ‘advanced’. Europe will reach critical mass well before we do.

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THX-1138
Posted on January 26, 2013 at 11:01am
It’s coming.

“I like these quiet little moments before the storm. It reminds me of Beethoven.”
- Stansfield in “The Professional”

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noah2854
Posted on January 26, 2013 at 2:40am
oh yeah the youth in spain ,greece ,france ,italy ,germany and every where in europe ,but all the illegals are on wealthfare and benefits specially the muslims europe did it t themselves and usa by allowing the mexicans are doing the same when did you guys see a mexican asking for quarters in the corner of the streets ? never because while americans are unemploy the got all the good jobs even the ones that pay regular wages multiculturalism don’t work never will every body should read what is going on uranus square pluto 2012and get a clue and i think is already too late .

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VetMike
Posted on January 25, 2013 at 5:03pm
Greece and Spain are the locomotives pulling Europe (and the US) over the cliff. The EU should be dissolved and debtor countries cut off from the tit. They got themselves here, they need to get themselves out. They will not make the hard decisions as long as they have a place at the trough.

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Brasil2520
Posted on January 25, 2013 at 2:40pm
Numbers like this now is what started the problems of the past, in Germany 1920′s people were left jobless as unemployment tripled when companies laid off workers or closed, Unemployment rose from 8.5 % in 1929 to 14% in 1930, then to 22% in 1931, at its peak it got as high as 30% in 1932.

Thats why unser fuhrer was so popular, with all the problems in Europe we needed a strong leader.
Now 2013 and it starts all over again, heads up watch out for unemployed house painters.

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NoMoMrNiceGuy
Posted on January 25, 2013 at 11:51am
Hang on kids it is going to get bumpy

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- AvengerK
  Posted on January 25, 2013 at 1:05pm
  What’s the problem Europe? Barry says you should just give them “shovel ready jobs” and it’s all better.
  Come on…get the shovels out and get these special, wonderful youth with their expensive iPods and laptops and accompanying ISP contracts working on bridges and roads.
  
  Heck…Barry’s advisors and Nancy Pelosi believe that unemployment benefits are one of the best ways we know to stimulate an economy anyway. Stop worrying and light up a joint Europe this couldn’t be better for you.
  
  Report this comment
Noob
Posted on January 25, 2013 at 10:58am
Minimum Wage in Greece: 585 Euros per Month
Minimum Wage in Germany: 0

Retirement age in Greece: 58
Retirement age in Germany: 65
http://www.forbes.com/sites/walterloeb/2012/06/17/retirement-in-germany-may-rise-to-age-69-while-greece-is-at-age-58/

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LukeAppling
Posted on January 25, 2013 at 10:56am
America will join them in failure under Obama. If Obama were serious about jobs he would approve the Fracking oil businesses and allow the free market to generate millions of jobs. Instead he passes regulations stopping coal, delaying and lying about oil and gas both offshore and on public lands. America has the greatest natural resources in the world and we are the only country allowing the environmentalist whackos and the United Nations to stop our wealth from being used to save America. Obama wants to destroy America economically , as told in the movie “2016″ by Dinesh D’Souza, and we sit and stare at his failures acting like dumb democrats who are proud they elected a minority despite Obama’s massive failures.

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barber2
Posted on January 25, 2013 at 10:24am
Isn’t is amazing that our Rhodes scholars and our Affirmative Action types in the current Democrat Party haven’t figured out that all of this Far Left stuff DOES NOT WORK ?! The Democrats just keep leading their clueless fellow Americans, like lemmings, over the cliff of economic collapse .

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- hjablo
  Posted on January 25, 2013 at 11:59am
  Unfortunately, liberals/progressives are so stuck in their own narrow ideological bubble, that unbiased observation of world events just passes them by. Look at Cuba, North Korea, the PIGS (Portugal, Italy, Greece and Spain) and Venezuela for examples of failed “economic fairness/equality”. The only winners in these type of systems are the people in political power and their cronies, everyone else gets the proverbial hose job. In my humble opinion, we are headed down the same path, so as the rock group The WH said, “meet the new boss same as the old boss”. Just a different set of folks (politicians) with different outlooks, but the end result is the same.
  
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- Lt_Scrounge
  Posted on January 26, 2013 at 12:20am
  It works when your intention is to institute the Cloward/Piven strategy for collapsing an economy, thereby causing an armed uprising. Now if your intent is to grow an economy and create jobs, it is the exact opposite of what you should be doing.
  
  Report this comment
woodyee
Posted on January 25, 2013 at 10:00am
Gosh…

Golly gee willickers, those countries are sooo geographically apart…what could they possibly have in common that would lead to such miserable numbers? Is it a lack of Faith? I wonder what it could be…

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- sndrman
  Posted on January 25, 2013 at 10:28am
  these kinda numbers cause a lot of unrest that can lead to a lot more unrest…….as long as liberalism is advanced…………..common sense and conservative PRINCIPALS usually work 100% of the times they are tried……….
  
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huey6367
Posted on January 25, 2013 at 9:55am
I really feel that with the uncertainty in Europe and the unrest in the Middle East, we are headed for World War III. Maybe I am think to pesimistically but historically this kinda stuff happens until one incident occurs that sets off a powder keg. And that is probably the only way out of this mess. Thanx politicians (sarcasm) for looking out for us and working in our best interest!!!

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- barber2
  Posted on January 25, 2013 at 10:15am
  Well, maybe giving arms to rebels will help ?! I mean, that is so charitable of the Obama Administration to help America’s ” friends.” Oh, wait….( John Kerry to the rescue !? )
  
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- huey6367
  Posted on January 25, 2013 at 10:21am
  John Kerry should have married Jane Fonda so they could both feed wach other’s hatred of this country. Yet they won’t leave. I don’t get it.
  
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4xeverything
Posted on January 25, 2013 at 9:22am
It’s not the youth unemployment rate that is one of the biggest “burdens” weighing on the EU…it’s the lazy @ss youth. Entitlement mentality is just too nice of a term for these lazy pieces.

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OldSurfRat
Posted on January 25, 2013 at 9:16am
Not my problem.
Let them feel the pain of what the have created so that future generations can look back and say He11 NO to Socialism.

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- starman70
  Posted on January 25, 2013 at 10:14am
  It is our problem for the future. With the leftist administration we have now, in 10 years, we will be in the same boat. We already have a similar situation with the youth in the inner cities and now with outrageous taxes on individuals and business along with burdensome regulations being promulgated every day by a plethora of government agencies we are rapidly sliding into the Spain / Portugal / Greece model.
  
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progressiveslayer
Posted on January 25, 2013 at 9:15am
It has to be explained to collectivists that a high youth unemployment rate always ends badly. Here in new Amerika the progs have kept a lid on it with all the freebies but when the money for nothing crowd finds their ‘free’ money is worthless then you will see change you can believe in.

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- RANGER1965
  Posted on January 25, 2013 at 9:25am
  Well said.
  
  The Whitehouse will likely have a meeting with all of the media and ask for the riots and lawlessness not to be covered as a matter of national security. They will tell their grinning supplicant’s that covering these stories accurately will make it worse and make the discontent spread to other areas.
  
  I’m sure that they will spin what they can spin and ignore what they can ignore. But unless things change dramatically it won’t matter.
  
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Snowleopard {gallery of cat folks}
Posted on January 25, 2013 at 9:13am
Look hard America – we will have this under Obama in short order. He wants the nation to collapse and will push hard now that nothing holds him back.

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- barber2
  Posted on January 25, 2013 at 10:18am
  SNOW: I am waiting for the release of the OWS , SEIU, and other political mobs of the Left . Seems like we already saw one of the actors of their Theater of the Absurd Players at Kerry’s hearing. Can the rest be far behind ? I mean, Obama needs to get that Martial Order in place. Some havoc is in order. And Uncle Joe is running around doing his Disarm the Citizenry Guest Appearances…..
  
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