Sunday, October 9, 2011

Stark Recession-Era Rise in Unemployment

So I'm reading a bunch of material – on structural versus cyclical unemployment, labor mismatches, and long-term job growth potential – and I happen upon this graph in a Reuters blog by Felix Salmon.

It shows that the change in the United States unemployment rate during the Great Recession was twice that of any European country. It’s astonishing for both the data it illustrates, and the lack of attention it’s drawn from policy makers.

Salmon explains this change in job seekers is likely due to the US’s previously low structural unemployment rate adjusting to European levels.

I have to learn more before commenting on this contentious economic and political issue, but this graph is too good not to post now.

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