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U.S. Unemployment Now as High as Europe

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Author Info
John Schmitt
Hye Jin Rho
Shawn Fremstad

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Abstract

From the early 1990s through the peak of the last business cycle, relatively low U.S. unemployment rates seemed to make the United States a model for the rest of the world’s economies. The Organization for Economic Cooperation and Development (OECD), the International Monetary Fund (IMF), and other international organizations all praised the U.S. unemployment performance and urged the rest of the world’s rich countries to emulate the "flexibility" of the U.S. model. However, this report shows that in the current economic crisis, the U.S. unemployment rate ranks 4th to last among the major OECD countries.

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File URL: http://www.cepr.net/documents/publications/US-EU-UR-2009-05.pdf
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Publisher Info
Paper provided by Center for Economic and Policy Research (CEPR) in its series CEPR Reports and Issue Briefs with number 2009-20.

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Length: 4 pages
Date of creation: May 2009
Date of revision:
Handle: RePEc:epo:papers:2009-20

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Related research
Keywords: unemployment; unemployment rate; Europe; United States;

Find related papers by JEL classification:
O51 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - U.S.; Canada
E - Macroeconomics and Monetary Economics
E2 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment
E24 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution
J - Labor and Demographic Economics
J1 - Labor and Demographic Economics - - Demographic Economics
J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends and Forecasts

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This page was last updated on 2009-11-14.

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