Within Graph I (Unemployment in the EU), individuals are measured between the ages of 15 to 74 years of age whom are not actively employed within the period of two weeks or more.
The graph states that unemployment in 2007 was highest in Portugal with 9.1, higher than the European Union average of 7.2. Over the years between 2007-2016, the unemployment rate had slightly increased for all European Union countries, but increased by more than double in Spain (19.6 in 2016 compared to 8.
2 in 2007) and Greece (23.6 in 2016 compared to 8.4 in 2007); 8.6 being the EU average in 2016.
Within Graph II (Youth Unemployment in the EU), youngsters are measured between the ages of 15 to 24 and like Graph I focuses on those unemployed within the period of two weeks or more. The graph states that in 2007, Greece (22.7), Italy (22.4), and Ireland (20.4) had the highest youth unemployment; compared to the EU average of 15.5. Within the years 2007-2016, youth unemployment for all EU countries had increased slightly like Graph I. Additionally, like in Graph I, Greece(47.
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3) and Spain(44.4) had the highest youth unemployment; compared to the EU (18.7).
On of the main problems that youngsters face related to youth unemployment is lack of higher education. According to Mckinsey, “a higher level of education provides an excellent insurance against unemployment and makes it more likely that an individual will stay in employment and maintain earning power in difficult times”. In theory, those with a secondary education typically have lower unemployment as they participate and earn more than those of lower education.Additionally, there is a mismatch between the skills of youngsters as they are not building the qualifications that employers need. In full, youngers have decided to take courses on fields that are low in demand; leaving in high demand jobs of low interest like science, mathematics, and technology. Young people end up having a hard transition from school-to-work. Then there are others who have earned advanced degrees and are considered overqualified for their jobs; causing them to work fewer hours than they would want.
