Chart Of The Day

James Plunket passes along what he calls “the scariest chart in the world right now”:

European Youth Unemployment

Derek Thompson comments:

Youth unemployment is bad for all the obvious reasons, including the big loss to future productivity and earnings. But Europe’s youth unemployment is strange, because we’ve never seen a generation *this educated* also be this unemployed. Nearly 40 percent of Spain’s 20-and early-30-somethings are college educated. In Greece, it’s 30 percent. Europe’s crisis — clearly worsened by its austerity obsession — is an absurd waste of the most educated generation in the continent’s history.