Of the many gloomy indicators generated by the financial crisis in the rich world, the sharp rise in youth unemployment is perhaps the most dispiriting.
Countries that entered the crisis with this problem already entrenched, such as Spain, have fared the worst. Their labour markets tend to be characterised by privileged cliques of workers with high levels of job protection, and indignados who are outside the system, banging on the window in the hope of being let in.
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Economist
