Unemployment Rates, adjusted to U.S. Concepts
What jumps out to me:
- Since 2007, every country but Germany has a worse unemployment rate. This is a global–not a national–problem. The group of European countries, whether we consider the EU-27 or only those that have adopted the Euro as their currency, have seen unemployment increases each year since 2008. Those groups are not explicitly represented in the BLS data.
- Since 2009, just after Lehman Brothers hit the fan, through the second quarter of this year, four of these ten countries the BLS cites for comparison have seen their unemployment rise. The United States is not one of them.
- From 2011 to the second quarter of this year, only one country has seen its unemployment rate drop by 0.5% or more. That country is the United States.
Unemployment, seasonally adjusted, March 2011-August 2012.
- We–all countries–are in this mess together. Too big to fail might describe banks. Too interconnected to stand alone describes national economies.
- No leader has the ability to magically restore the economy of his nation.
- All things considered, the United States is faring fairly well.