Unemployment rates in Spain and Italy have improved in recent months, but are still among the highest in the eurozone: 19.8% and 11.5% respectively in May, according to the latest Eurostat data. Youth unemployment is also definitely significant in those countries (43.9% and 36.9%), suggesting that the younger generations are the ones who are still paying the higher price to the economic crisis.This help explain why so many of them choose to migrate: thousands of young Italians flocked to London or Berlin, in search of opportunities. For those who stay, setting up their own business (often called a “startup”, when dealing with innovative projects) might be the only choice.“Startups are the ones that are creating jobs. We have evidence from a recent OECD report that startups that survive the first five years are the ones creating 21% to 55% of all new jobs, depending on the country,” Isidro Laso, who heads the Startup Europe initiative of the European Commission tells me.
Published by Fred Zimny
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