THE Covid-19 Pandemic is causing a worrying spike in youth unemployment across Europe.
Experts warn that the rise in youth unemployment in Europe due to Covid-19 could cause long-term damage to an entire generation.
Over 3 million under-25s have lost their livelihoods this year, while the unemployment rate for over-55s has actually dropped slightly. Evidence has proven that those without work in their early adulthood can expect to earn less during their lifetimes.
In Italy, for example, the average age for an adult to leave the family home is 30. Following the 2008 Financial Crisis, the EU’s youth unemployment rate shot from 16 to 26%, and Spain, Italy, and Greece have yet to return to pre-crash levels.
Some countries have seen a particularly worrying surge in 2020. Spain’s rate has risen from 32 to almost 40% and Croatia’s from 17 to 24%.
The UK’s rate raised less dramatically, from 11 to 14%. Some analysts fear that the damage incurred by this plummet in youth employment could take a decade to reverse, yet in their recent policy speeches the leaders of France, Italy, Spain, and even the EU Commission’s President Ursula von der Leyen failed to include the issue among priorities.
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