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That's a good point, but I would add that the high geographic mobility of Americans relative to Europeans is a long-standing phenomenon, whereas Europe's unemployment problem really only dates from the early 1980s. Before that European unemployment rates had actually been lower than those in the US since World War II.

So, unless there was a big increase in immobility of European labor since 1980, it can't be the whole answer.

It could be, though, that labor immobility is interacting with something else (some aspect of globalization?) that keeps unemployment high.

by TGeraghty on Tue Jun 21st, 2005 at 04:57:43 PM EST
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