Six years after the euro’s debt crisis began its attack on economies from Greece to Ireland, one in six people aged between 20 and 24 is still living for the day – not in employment, education or training.
They’re NEETS, for short. There are 5 million people that fit this bracket across the 28-nation European Union, according to fresh Eurostat data.
The problem isn’t only that they are currently without a job. They “face a permanent disadvantage on the labor market,” according to Guntram Wolff, director of the Brussels-based policy group Bruegel. “They will never be as productive as people who have a normal start.”
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.