It does have an effect in Australia I think. Many places would rather hire a group of casuals under 18 to cover 1 full time person. They can pay young people youth wages which are well under the minimum wage.
Looking at Spain's 55% youth unemployment, it's probably a good thing. Giving the young jobs is good, you don't learn how to work in a vacuum. Once they are older and have training they'll be able to find better jobs with the experience under their belt.
Whether that is a bad thing or not I don't know.