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The US economy is frequently compared to Japan in the early days of its lost decade, but here's one way it's way different: the US is a much worse place to be a worker.

As this chart from Deutsche Bank nicely illustrates, US unemployment took off like a rocket when the crisis hit. In Japan, it barely budged, just gradually getting slightly worse over the years.

There must be a mechanical reason for this.

by das monde on Tue Oct 12th, 2010 at 11:41:55 PM EST
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