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U.S. Jobless Rate May Soon Top Europe's
By Floyd Norris, NY Times

For many years, unemployment in the United States was lower than in Western Europe, a fact often cited by people who argued that the flexibility inherent in the American system -- it is easier to both hire and fire workers than in many European countries -- produced more jobs.

That is no longer the case. Unemployment in the United States has risen to European averages, and seems likely to pass them when international data for April is calculated.

Europe is still Doomed though.

by Magnifico on Fri May 22nd, 2009 at 02:30:06 PM EST
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