Is Europe's Real Unemployment Double What Is Reported?

The Brussels Journal reports:

On 23 and 24 March the European Council is meeting to discuss the future of Europe’s social model. The very essence of the welfare state is at stake. Europe’s present social model is unable to tackle the modern challenges of globalization, and has left Europe with gigantic problems: an unsurmountable public debt, a rapidly ageing population, 19 million unemployed, and an overall youth unemployment rate of 18%. The unemployment figures may easily be doubled to account for hidden unemployment. The untold reality is that Europe’s real unemployment stands at the level of the 1932 Depression.

With debt obligations greater than assets, Europe is in big trouble.This article is a must read for those who think the European model is progressive.