by Jerome a Paris
Tue Jan 17th, 2006 at 08:49:23 AM EST
Le Monde printed a fascinating graph yesterday (not yet available online, but accompanying this article: Unprecedented deregulation of the labor market about the new, less constraining contracts proposed for younger and older workers):
On the left is the employment rate of 15-24 years old in various countries (i.e. the proportion of the whole age wlass that works); on the right is the unemployment rate, but as a percentage of the whole age class and not just of those working. The unemployment rate we usually hear about is the ratio of the right divided by the sume of the two numbers: unemployed/"active" (with active = "employed" + "unemployed"). Thus the French "youth unemployment is 21%, and the British one 12%, but it's essentially the same number of people.
This graph shows that unemployment rates are not very different across Europe; what changes is the employment rate. But as that can be caused by education policies as much as by labor policies, we enter a new twilight world of complexity there.