The Miserable Youth Of Northern Europe

The Miserable Youth Of Northern Europe by Jennifer Thomson, Gavekal Capital Blog

Yesterday’s release of better headline unemployment in Europe marked the first time since 2012 that the rate has been below 11%:

The resulting downtick in the region’s misery index (unemployment rate + inflation rate), while a step in the right direction, still leaves most Europeans significantly more miserable than the average citizen in North America or Asia Pacific:

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Perhaps the worst suffering are, surprisingly, the youth of Finland, Norway, Austria, and Sweden where unemployment rates have actually increased versus a year ago: