I remember Spain having traditionally a very high youth unemployment rate, just checked https://tradingeconomics.com/spain/youth-unemployment-rate and it’s 28%. Also I remember Swedish youth always struggled and there it’s similar to China with 19%.
I guess what is different is that this is new to China. Now you can’t get a job when you’re young and when you’re 35 you’re too old to work.
You want to look at seasonally adjusted numbers because it’s no wonder that there’s massive unemployment the month people get out of school.
Spain and Greece are fucked, yes, structural issues, Italy somehow managed to get back on track. Without seasonal adjustment, during Corona, it was as bad as 70-80% in Greece IIRC.
Three things though that help us soak that kind of thing up: a) mobility between EU countries, b) actual welfare systems, c) not having to pay alimony to your parents, at least not if you’re not filthily rich.
