Policymakers worry prolonged unemployment will hurt an entire generation’s ability to compete in the workplace. When the economy finally recovers, many of the under-25s will have become over-25s, and younger rivals will be nipping at their heels for entry-level jobs. The big fear: Europe’s Gen Yers will suffer the fate of Japan’s Lost Generation — young people who came of age in the recession-wracked 1990s but lacked the skills to find good jobs even after the economy started to pick up steam.
If that happens, the Continent would struggle to cope with large numbers of jobless young people. Violent protests over lousy job prospects earlier this year in Eastern Europe made politicians acutely aware of mounting social problems. “Most countries are moving in the right direction, but there’s still a risk that unemployment will last for years,” says Stefano Scarpetta, head of employment analysis at the Organization for Economic Cooperation & Development in Paris.
This article is from 2009, the year when I was starting to make the poor decisions that would lead to the hole I’m currently in. Very strange to think of myself as a possible historical casualty (though it shouldn’t be, really, because how many of my favourite novels are about people who were exactly that?).
I can’t press the “like” button because I so hate the reality of this. I hope like hell that you do not remain a historical casualty. I hope that so much it hurts. But I think it’s unfair of you to blame yourself for “poor decisions.”