Rage In The Streets

Under trees fringed with spring green, 50,000 students marched down a Paris boulevard on Mar. 25, taunting police and chanting slogans demanding jobs. It was one of many French demonstrations that Europeans have viewed in recent weeks with increasing anxiety. "These things tend to spread from one country to another," warns Jorge Hay, chief economist at Banco Central Hispanoamericano in Madrid. "Good weather," he adds ominously, "is coming to Spain."

If ever Europe had cause to worry about young people rampaging in the streets, it does now. With a deep recession in its third year, youth unemployment has reached frightening levels, almost double the European average (charts). Companies desperate to cut costs have slammed the door shut to new, mostly young hires. Now, Europeans under 25 are increasingly pessimistic about their chances of landing good jobs. Some companies are trying to offer more low-paying positions or training programs. And governments, such as the Netherlands, are subsidizing local companies that train the young. Yet the jobless numbers keep rising.