PrintJanuary 29, 2010
Graph of the Day for January 29, 2010
"Despite the popular emphasis on the U.S. housing price bubble and domestic monetary and regulatory policies, the recession has been a worldwide phenomenon with varying effects across countries... While job stability is a good thing, economics often requires trading one good for another. Restrictions on dismissing workers make firms more reluctant to hire workers in the first place. Therefore, countries that heavily regulate labor markets tend to have higher unemployment. Since 1989, for example, U.S. monthey unemployment has averaged 5.55 percent while German and French unemployment rates have averaged 7.93 and 9.62 percent, respectively." International Economic Trends by Christopher J. Neely at the St. Louis Federal Reserve.
Source: International Economic Trends by Christopher J. Neely at the St. Louis Federal Reserve.
Hoven's Index for January 29, 2010
Unemployment rates in 2007 - 2009 (2nd quarter of each year):
US: 4.53% - 9.27%
UK: 5.27% - 7.67%
Germany: 8.47% - 7.63%
France: 8.47% - 9.37%
Canada: 6.03% - 8.33%
Euro Area: 7.50% - 9.30%
Source: International Economic Trends by Christopher J. Neely at the St. Louis Federal Reserve.
Graph of the Day Archive.
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