June 27, 2012

The Council of Europe has expressed serious concerns over the rising unemployment rate among the young people across the recession-bound continent.

This comes as Europe continues to struggle with soaring public deficits.

The council members warned on Wednesday that the youth unemployment rate in Europe has reached an alarming level following the economic crisis in the European Union.

“Millions of European young people have decided to stop their studies, to stop their choice of work (to stop looking for work), and to abandon themselves in a sort of limbo situation. These are millions of people we’ve lost completely for the future generation, for the future of Europe and for the development of Europe and we should intervene,” said Luca Volonté, Chairman of the conservative EPP group in the Council of Europe.

The figures show that unemployment rate for young people in the European countries have risen from nearly 14.7 percent in 2008 to nearly 22.4 percent in 2012.

Various EU member states have been struggling with deep economic stagnancy since the bloc’s financial crisis began roughly five years ago.

As a result, the member-states started implementing tough austerity measure in a bid to prevent facing double-dip recessions.

The austerity measures have only resulted in growing anger among the most affected people, sacked workers, low-income workers and students.

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