Friday, March 30, 2007

German Unemployment Hits Six-year Low

German unemployment reached a six-year low in March, as the job picture in Europe's leading economy continued to improve, see this news story and this other news story.

Notice in the graph above that:

1. The U.S. economy, even during its worst years for unemployment (2002 and 2003 during the "jobless recovery" following the 2001 recession) does better than the German economy during its best years.

2. There has been a persistent gap, averaging 3.3% over the last six years, between U.S. and German unemployment rates.

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