Youth unemployment seen as 'scarring' by global group
By Annalyn Censky @CNNMoney
NEW YORK (CNNMoney) - As the jobs crisis drags on, high unemployment could permanently damage the economic prospects of the world's youngest workers, the Organization for Economic Co-operation and Development (OECD) warned Tuesday.
A lack of jobs for workers ages 15 to 24 could create a "scarring effect" on their long-term career paths and future earnings prospects, the OECD said.
Last year, about 18.6% of youth were neither employed nor in school or training programs across the OECD's 34 countries, the think tank said.
In the United States, that percentage was 14.8%.
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Um, just maybe it's because Obama encourages welfare spending.