Back in January, we were watching a TV program with a few other people who, like most people, weren’t paying that much attention to the finer details of the trainwreck in Europe.
A chart of youth unemployment throughout Europe came on, and we literally saw jaws drop in the room.
Anyway, Reuters’ Scotty Barber has updated what is essentially the same chart, and it’s just as jaw dropping.
Besides the surge in Spanish and Greek youth unemployment, there are a couple things that stand out.
One is the reversion to the pre-Euro mean, especially in Spain. You see this kind of thing echoed in interest rate charts, too, where countries are paying rates similar to what they paid in the pre-euro days.
We’re also impressed with the way Germans keep their kids working, even in these tough times.
Photo: Scotty Barber, Reuters
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