|<I think the deterioration, in the last two or three weeks, in the eurozone is very serious indeed. It’s the bond spreads in Italy and Spain. It’s the fact that youth unemployment is now over 50% in some of these Mediterranean countries." > |
It is happening in the US now:
1 in 2 new graduates are jobless or underemployed Note to Class of 2012: More than half of young college graduates now jobless or underemployed
These kids will become unemployable in a few years when more and more new graduates coming to the market.