Youth unemployment in the European Union and USA after the last crisis

The paper focuses on youth unemployment in the EU and USA after the last economic crises. The exclusion of young people from the labour market is one of the main social and economic problems all over the world, because it affects both individuals and societies tremendously. Most importantly, it delays the onset of key steps into adulthood (such as living independently, marrying and starting a family, and is fundamental to health and well-being). At a societal level, unemployed excluded and hopeless young people contribute to a decrease in consumption and a resulting decrease in gross domestic product (GDP). Not being able to cater to their needs, they contribute to unrest and exhibit criminal behavior. The emerging phenomenon of youth unemployment since 1980. Seems to be one of the main factors in the process of pauperisation of the young and whole society. The problem of young people dropping out of the labour market is a complex one with no single determining cause. It has been linked to economic factors especially the last economic crisis 2008, and educational, cultural factors. In the paper I look for an answer to questions of scale, dynamics and differences in youth unemployment in the EU and in the USA, and also the relationship between youth unemployment and economic, educational and cultural factors. Using different indicators I conclude that there is an increase in youth unemployment in the EU and USA and a close relationship among economic, educational and cultural factors of youth unemployment. The study is based on quantitative Eurostat and OECD data.

Key words: youth unemployment, youth labor market, economic crises, USA, EU