Youth Unemployment in Greece tops 60%.

Youth unemployment rates in Greece have broken 60%. This is outrageous. Over half of all potential workers 15 to 25 years of age are jobless. In Spain, conditions are nearly as bleak: youth unemployment rates top 40%. Portugal? 38%. Italy? 40%.

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This is not even current. This is from one year ago. Conditions are even worse now.

Within the entire European Union, a mere handful of nations have youth unemployment rates near or beneath 10%.

These southern European nations are examples of the endgame for hardcore Welfare states. Crippling minimum wage laws, mandated weeks-long vacations, ironclad unions that dominate entire industries, overstretched pensions, numerous and confounding labor laws that regulate nearly every aspect of the workforce, all overseen by a bloated, ever-growing and massively out-of-touch bureaucracy.

The older and union-affiliated workers in these nations knowingly screw the younger generation. Young workers are always willing to work for less; older workers do not wish to lose their jobs to young workers willing to take lower wages. They have chosen to fart in the faces of millions of young workers, nearly half of each nation’s young workforces, out of the fear of competition. The unions in these nations have persuaded the respective governments to institute strict regulations on minimum wage, mandated benefits, and the ability for employers to easily cut personnel. The older workers in these nations, which comprise the vast majority of the unionized workforce, have opted to write off nearly half of all young workers in each nation in favor of comfortable retirement.

            Employers want to make a voluntary transaction with young workers willing to work for low wages. The entrenched Unions are in competition against young workers. They do not want employers to have a legal right to employ young workers, who are willing to accept a far smaller paycheck.

Entrenched Unions go to the government and demand that employers not be allowed to make this voluntary transaction with young workers. They do so in the name of national prosperity. They do so in the name of Worker’s Rights. They persuade the government that any price-competitive offer on labor from young workers to employers will erode the rights of workers and the wealth of the nation. They insist the government has to send out someone with a badge and a gun to stop these trades.

            Club Med has opted to wield protectionist clubs against young workers looking to enter the labor market. These older folks hardly seem to care. Southern Europe has become one gigantic retirement community. This has disastrous implications. Because young people cannot get jobs, they must delay starting their adult lives. They must delay owning their own homes, starting their own families, and/or starting their own businesses, because they cannot generate the monetary capital to do these things. Being 25 years old and being hardly able or totally unable to actually begin living an adult life destroys optimism. This also destroys birthrates. Birthrates are the future.

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