Europeans have gotten used to much higher "natural" unemployment rates between 8 and 10%. In the US there has been a succession of bubbles that have hidden a lo

Europeans have gotten used to much higher "natural" unemployment rates between 8 and 10%. In the US there has been a succession of bubbles that have hidden a lot of the inefficiencies and we are only now coming to the realization that a lot of us are just not needed at all. It will be harder here since the idea of long term government support is not popular, especially in the current climate.