Eurozone youth unemployment reaches record high of 24.4%


Phillip Inman
The Guardian
November 29, 2013

The crisis facing the younger generation across the Eurozone worsened last month as youth unemployment hit a new record high of 24.4% with under-25s in Spain, Italy and Portugal finding it harder to get jobs.

The grim news on on employment came as the Netherlands was stripped of its prized AAA credit rating despite the country’s recent exit from a year-long recession.

Ratings agency Standard & Poor’s said on Friday that weakening growth prospects showed the country would struggle to improve its financial stability and generate new jobs.

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