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Couple of things. 1. There is very little context for this graph, and "Average Hours Worked by Persons Engaged" is not defined very well. 2. What happened in
by kaushalp88 11y ago
Couple of things.
1. There is very little context for this graph, and "Average Hours Worked by Persons Engaged" is not defined very well.
2. What happened in Germany in ~1975 that made them suddenly start working?
3. Where is this data being sourced from?
- danboarder 11y agoI didn't create the graph, but the data is consistent with what I've seen referenced using FRED ( http://research.stlouisfed.org/fred2/ http://research.stlouisfed.org/fred2/ )
- more_original 11y ago> 2. What happened in Germany in ~1975 that made them suddenly start working? I think it may have been the oil crisis in 1973. During the crisis, industry did not have enough work for its workforce. Instead of mass-layoffs, they tried to shorten working hours and cut wages accordingly. I think in 1975 the situation had normalized again, so that working hours increased again. So, rather than an increase in 1975, it's probably a decrease just before.