Friday, 24 January 2014

More Italian jobs

'Get a job at Costa' is the UK employment minister's recommendation for the young unemployed. The underlying idea is the same that inspires Renzi's Jobs Act: there are enough jobs we only need to help the unemployed to find them. Or, if job seekers are too precious about where to work, pressure them to accept any job. (Under Renzi's legislation job seekers would loose unemployment benefits after turning down more than one job. This is similar to the penalties introduced in Germany as part of Schröder's Agenda 2010.)

Seen in this light, job market reform is certain to do wonders for Italy and the rest of the southern crisis countries. They don't have Costa but coffee outlets abound and once unemployed youngsters finally find their way there we'll see a swift return to full employment. All that's needed now is a huge, and I mean huge, increase in coffee consumption.

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