Complaining About Not Having A Job? Try Living in Greece or Spain

June 2, 2013 at 4:25 am Leave a comment

Currently, I am looking for a job in the finance/accounting field.  Finding a job is that not easy especially when you do not have any direct experience as a financial accountant or financial analysis.  There is a lot of jobs that I qualify for, but it will take a lot of time to find one.  If all job hunting fails, at least, there is a lot of telemarketing jobs available just in case there is a lack of work out here.

So the job market is the US is rather lackluster, but is not as bad as Greece or Spain.  The numbers in Greece, especially youth unemployment is especially horrifying as stated in this blog post

“The EU unemployment rate set a new all-time high of 12.2 percent, according to today’s estimates. But it’s the youth unemployment crisis that’s truly terrifying. In Spain, unemployment surged past 56 percent, and Greece now leads the rich world with an astonishing 62.5 percent of its youth workforce out of a job

My God, look at Greece’s trajectory. That thing isn’t slowing down. Since April 2012, Greek youth unemployment has grown by about one percentage point a month. At that rate, it would pass 70 percent in early 2014. 

It is suddenly not insane to imagine a youth unemployment rate of 70 percent in the developed world. And that is insane.

It should be noted that some people consider youth unemployment figures a bit hyperbolic. They prefer measures like “youth unemployment ratio, which takes the share of young people who are looking for work but can’t find it and divides it by the entire population. Last year, the EU’s youth unemployment ratio was 9.7 percent , less than half the youth unemployment rate of 23 percent.

But even the ratio fails to account for the millions of young people who have all but given up in their awful economies. There are 26 million young people in rich countries who are as “NEETS” (Not Employed, or in Education, or Training), according to the OECD.”

That is entirely messed up.  An entire generation will be lost to unemployment and that does not spell good news for Greece or Spain.  This kind of stuff fuels popular revolutions that take down governments and force a dramatic shift to socialism, communism or worse, fascism..

This is the type of conditions that brought down the Romanav’s dynasty. It led to rise of Hitler.  It is scary because internal unrest can get a lot more of worse.  It should also warn US lawmakers that any budget-cutting beyond the sequester should not occur.  

As bad as economic conditions are the US, we should be grateful that there are still jobs out there.   There are companies looking for entry-level workers out there.  The only problem in the US is that very experienced workers like me apply for the job with tons of experience and are willing to take the pay cuts.  

However, we do not have the scary numbers that Greece or Spain does and that should keep America stable for years to come.  I believe that as long we manage our debt level to a sustainable level and not engaging in massive austerity like the Europeans do, that we should be able to maintain some level of stable economic growth for the future. 

Truly we should be grateful to live here, because other places, it is lot of worse than here.


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