Young people are bearing the brunt of the jobs crisis, with 22.6 per cent of young people in the euro area unemployed, according to the Organisation for Economic Co-operation and Development (OECD).

In Spain, Italy and the Slovak Republic, the unemployment rate for people aged 15-24 continued to rise this July, hitting new highs of 52.9 per cent, 35.3 per cent and 37.8 per cent respectively.