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The USA's unemployment rate in March 2020 (4.4%) was lower than the EU's unemployment rate in January 2020 (6.2%) according to a very casual Google search. I'm
by shuckles 6y ago
The USA's unemployment rate in March 2020 (4.4%) was lower than the EU's unemployment rate in January 2020 (6.2%) according to a very casual Google search. I'm curious how you're drawing this. Are you saying the EU has lower unemployment today than it did in January?
- r00fus 6y agoIt's amusing you post pre-COVID numbers for both regions. Best comparison would be April numbers for both EU and US. The US is around 20% now [1]. The US short-term unemployment numbers are way up, because the US didn't do enough to help small businesses weather the storm, so they laid off their workforce. In contrast the EU supported their businesses and workers and consequently people are taking leave instead of unemployment. [1] https://www.marketwatch.com/story/millions-of-lost-jobs-may-push-unemployment-rate-to-highest-since-great-depression-2020-05-02 https://www.marketwatch.com/story/millions-of-lost-jobs-may-...
- conanbatt 6y agoThis is an accounting gimmick. The US has clearer unemployment conditions and also has given relief. In countries in the EU (and it varies a lot) you would see they are still employed, but not working and taking a paycut. That's really the same as unemployed. In any case my comment was about the meaning of having severance in contrast to having a job, not about crisis handling.
- shuckles 6y agoIf you meant "these days" as specifically in response to the COVID-19 crisis, we don't have basis for a useful comparison. As another commenter pointed out, the US is delivering economic relief primarily in the form of expanded unemployment coverage whereas Europe is taking a myriad of business support measures. Whether one is better than the other is not obvious yet it's effectively what unemployment numbers would reflect.