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...adding:  On the participation rate charts.

Eurogreen apparently had a similar thought to me.  The crisis in Europe hit the periphery, where you're going to find less development and (I suspect) more traditional, one-income households generally.  The hit to wages from the recession was also much more dramatic on the periphery than it was in the US or the EZ core.

The demographics are pretty similar.  Ignoring the crisis, you should actually see participation rising faster in the US, because stronger job growth here should induce more labor participation.  But incorporating the crisis into the analysis probably gives you a good chunk of the answer.

Be nice to America. Or we'll bring democracy to your country.

by Drew J Jones (pedobear@pennstatefootball.com) on Tue Apr 21st, 2015 at 06:14:40 PM EST
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