Germany also has high unemployment because of the reunification, so it would be much harder to go down to 5%. Anyway, of course 5% unemployment is better than

Germany also has high unemployment because of the reunification, so it would be much harder to go down to 5%. Anyway, of course 5% unemployment is better than 12%. On the other hand, Germans have less to fear from unemployment. Not only are they much harder to fire, but the unemployed are better off in Germany, and don't have to worry about losing health insurance. So Germans have more peace of mind than Americans. This comes with a hefty price tag, of course. So it's a trade-off. My point was: Germany is doing just fine, in its own way, and there is even a start-up scene in Berlin.