Wednesday, September 21, 2011

Over 40% of 15-24 year old Spaniards are unemployed

Some pretty depressing numbers from the Economist this month:

By comparison youth in the US are doing great with an 18% unemployment rate and Germany is basically a paradise at 9%. And this article only looks at developed countries, around the Arab world the rates are astronomical. Are we creating a generation that will remain only marginally attached to the work force for their entire lives? School can only substitute for work so long because there's a lot that you can only learn on the job, plus there's a limit to the debt a person can afford to take out. The article points to Germany's widespread apprenticeship program as a reason for its success. Similar programs have had limited success in the US, our mentality has always been a little more 'do or die'. And if that's the way people like it I'm all for it. But if we're letting our youth fail at such high rates, why do we insist on bailing out our bankers? I'm just looking for a little equality.

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