Assessing the long term cost of youth unemployment

In the euro zone, the impact of the sovereign debt crisis on economic activity worsened the situation for millions of workers in many countries. [...] The region’s unemployment rate rose to 11.8% in November of 2012, the highest level since the inception of the common currency. [...] The results from the other countries Development Survey of Great Britain found that a period of suggests that the latter methodology would underestimate youth unemployment ranging from 7 to 12 months would the wage losses by up to 20% relative to the occupational cause a wage penalty of 10.9% at the age of 33, which would breakdown alternative. [...] To put this in simple Our results suggest that the magnitude of the earnings dollar terms, the earnings loss due to the rise in youth un- foregone due to the increase in youth unemployment range employment is equivalent to C$10.7 billion and the loss due from very significant in Ireland, Spain, Greece and Portugal to scarring is equivalent to C$12.4 billion. [...] For In the case of the U. S., the estimated wage losses and instance, the wage losses caused by the spike in youth un- scarring effect are virtually the same, as a share of GDP, as employment in the aftermath of the financial crisis in Ireland in Canada.