The Chasm in Youth Unemployment Rates in Europe

This remarkably pertinent and thoughtful article from the Guardian contrasts two regions of one single market - Calabria (Italy) and Bavaria (Germany) which have vastly different rates of youth unemployment.

The story from Italy is one of deep-rooted government failure and a locality in thrall to the mafia. In Bavaria, youth unemployment is below the rate that we would normally consider as full-employment, their labour market supported by medium-sized, Mittelstand businesses which traditionally are reluctant to pull the plug on employing younger workers with less experience in the labour market when macroeconomic conditions become difficult.

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