The Anomaly of Youth Unemployment

In certain European countries, college graduates face higher unemployment rates compared to high school graduates, which contradicts the common belief that higher education leads to better job prospects. This phenomenon is particularly observed in southern European nations like Italy, Greece, and Portugal, where the positive relationship between education and employment appears to have deteriorated over decades. A notable exception is Spain, where the reversal of this trend followed the European debt crisis, not due to improved conditions for graduates, but rather the worsening situation for non-college graduates. This raises questions about the underlying economic factors contributing to this disconnection between education and employment outcomes.