“they have an average of three years more education than their parents, a worse job and a lower standard of living”
The Observer explains how a generation of well-educated young professionals in several European countries are realising that they cannot hope to achieve the quality of life enjoyed by their own parents.
In contrast with the fast growing economies of developing countries such as India and China, in Western Europe growth is slowing, and job markets have been stagnant for several years. Rising inflation, high property prices and low wages mean that young people find life increasingly difficult.
In France they are called the ‘baby losers’, in Spain they are ‘Mileuristas’ and in Italy ‘Milleuristi’ (meaning those who earn 1000 euros per month)
According to the Observer, the closed job markets of these countries is a major obstacle. Inflexible labour laws encourage those who have jobs to hang on to them at all costs, at the expense of younger job seekers.
These are certainly not the poorest people in Europe. But it is a disappointing situation for a generation which grew up believing that a good education is the key to a good future, and now cannot find a job that pays the bills.
About the authorLucy