Consider, for a moment, a tale of two countries. Both have suffered a severe recession and lost jobs as a result -- but not on the same scale. In Country A, employment has fallen more than 5 percent, and the unemployment rate has more than doubled. In Country B, employment has fallen only half a percent, and unemployment is only slightly higher than it was before the crisis. Don't you think Country A might have something to learn from Country B? This story isn't hypothetical. Country A is the United States, where stocks are up, G.D.P. is rising, but the terrible employment situation just keeps getting worse. Country B is Germany, which took a hit to its G.D.P. when world trade collapsed, but has been remarkably successful at avoiding mass job losses. Germany's jobs miracle hasn't received much attention in this country -- but it's real, it's striking, and it raises serious questions about whether the U.S. government is doing the right things to fight unemployment. ...
Don't you think Country A might have something to learn from Country B?
This story isn't hypothetical. Country A is the United States, where stocks are up, G.D.P. is rising, but the terrible employment situation just keeps getting worse. Country B is Germany, which took a hit to its G.D.P. when world trade collapsed, but has been remarkably successful at avoiding mass job losses. Germany's jobs miracle hasn't received much attention in this country -- but it's real, it's striking, and it raises serious questions about whether the U.S. government is doing the right things to fight unemployment. ...
... it raises serious questions about whether the U.S. government is doing the right things to fight unemployment. ...
Don't look now, Krugsy old boy (I get to call him that. I'm special.) but the`government doesn't give a rat's ass about the unemployment rate in the general population, only about their own. Wake up, grow up Krugsy. In the end, might makes right. Nothing has changed since the caveman.
