Polly Toynbee raises some interesting point about how to tackle unemployment, especially amongst the young.
Rather going on about how bad mass unemployment, the bit that interests me is how to tackle and stop it.
At the end of the day, government intervention is what matters. Putting up money is important. Possible schemes involve subsidising wages, guarenteeing places in education or training etc.
She compares schemes for encouraging people back into work against ones designed to stop people loosing their jobs (the latter in Germany). To me, that highlights a cultural differences between Germany and the UK, with the UK having more emphasis on a 'flexible labour market'. The thing is that it's easier to go from job to job than from unemployed to employed and so i would probably come down on the side of keeping people in their jobs.
As ever, the question of how to pay for it is massive. I like her idea of taxing (bankers) bonuses with an explicit link to keeping people in work. People might buy that