Without net new jobs, however, the process is short-circuited. The painful results are most evident today in some European countries and in developing countries where an initial burst of technical-industrial growth has stagnated. In these situations, high unemployment has become so chronic that even many graduates of universities and technical schools cannot get a foothold in the workplace. The chance for these young people to develop their skills and contribute their ideas is deferred and, in many cases, lost. For every jobless graduate, the country gets no economic return on its investment in education. The downward spiral takes hold
