Europe’s Unemployment a Serious Problem
Unemployment is an economic condition marked by the fact that individuals actively seeking jobs remain not hired.The unemployment in Europe does not seem to return to its normal level due to the recession that has been going on and now on its fifth year.
The unemployment rate increased in the last couple of years in the countries who are experiencing big debt problems like Spain and Greece. In a ratio, one of two young workers has no job.Spain’s unemployment rate shot up to a record 26.02 percent in the fourth quarter of 2012, leaving almost six million people out of work, it is clear unemployment will not recover fully before the debt crisis is over and Europe’s economy improves.
The question then boils down if Europe is losing a whole new generation of young workers or just wasting some hard-earned skills.There are some countries that are doing better than in the previous recessions. An example would be Germany and the Netherlands because unemployment is no longer a big problem for the two countries. Two measures that helped Germany keep youth unemployment low are apprentice training and subsidized employment for young people, including self-employment.
It is the fiscal consolidation programs that make the unemployment problem worse although it is said to be necessary in the long term. According to CNN, Deep recession and high unemployment tear into the fabric of society. Unemployment causes misery to families, destroys their self-esteem and wastes their potential. It is both a waste and a regression.
The policies needed to combat unemployment go against the thrust of fiscal consolidation; it is not only an economic problem but a serious social problem.