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Europe’s Labor Markets Have Favored Older Workers at the Expense of Younger Ones

While there are a multitude of economic hardships facing the Eurozone right now, one of the most distressing is the joblessness among young workers which is now around 30 percent in Portugal and 50 percent in Spain.

In Spain, part of the problem can be attributed to the state of the economy, while the majority of the burden is due to the fixed-term contracts that were introduced in the mid-1980s to help stimulate the economy.

Instead, now they make it easier for companies to hire and fire these temporary workers, while protecting older workers, which have permanent contracts.

Originally the goal was the have companies convert the short-term temporary contracts to a more permanent basis, but instead only 6 percent were converted during the mid-2000s.

In Spain between 2005-2007, around 80 percent of Spanish workers aged 16 to 19 were on temporary contracts compared to the 32 percent of 30-year-olds and 24 percent of 40-year-olds.

Such instability in work makes these younger workers have a lack of training that follows them later in life.

Source: GLOBALITY - GAI

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