U.S. Unemployment Now as High as Europe
AbstractFrom 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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Bibliographic InfoPaper provided by Center for Economic and Policy Research (CEPR) in its series CEPR Reports and Issue Briefs with number 2009-20.
Length: 4 pages
Date of creation: May 2009
Date of revision:
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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, Macroeconomic Effects, and Forecasts
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