As Europe struggles, young job-seekers suffer most

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Irene Fernandez lost her job with Spain's postal service five months ago, a victim of government spending cuts. Since then, she's been getting by on spending money from her mother and the $530 a month she earns grooming dogs for neighbors. Fernandez, 24, has had one job interview.

"This year has been the toughest," she says. "I am beginning to realize that things are going to be a lot tougher for me than for my mother's generation."