Economics is an abstract concept. When you're sitting in a sunlit classroom or under a courtyard magnolia at Yale, neither the stock market nor latest (un)employment numbers seem particularly urgent. Oh, for those halcyon days.
Every morning after breakfast, you get ready for yet another "work" day, always hoping that today will be the last one like this. It may seem rough, but really it's not so bad: you're just one of six million Spaniards who are unemployed today.
The unemployment suffered by the youth of today will most likely haunt them for the rest of their lives and when they become parents of their own -- if they ever make enough of a living to start their own families -- it will also haunt their own children.
All the evidence shows that if a young person is out of work for a year or more at the beginning of their career, that will affect them throughout their working life. There's no way back for most of them.