Youth Unemployment Shows Euro-Area Recovery Not Working for All
- Labor market slack means means ECB likely to keep policy loose
- Almost half of youths unemployed in bloc’s depressed countries
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For all the continued momentum in the euro-area recovery, differing prospects for young people across the bloc show the wounds of the debt crisis remain very raw.
The unemployment rate for those under age 25 was at 19.4 percent in February, according to data on Monday. While that’s an improvement compared with a year ago -- and is the lowest since 2009 -- it’s more than twice the total for the euro-area of 9.5 percent. In four southern European countries -- Greece, Spain, Italy and Cyprus -- at least three in 10 young people are still out of work.