Semi-random ramblings from the ethereal edge of...ahh forget it.

Monday, November 09, 2009

America could learn something about unemployment from Europe? That's rich

I read this today and, I must say, I agree. It's a bitter pill to swallow, but the American economy could stand to learn from the example of Europe with respect to joblessness.

How, after all, did we attack unemployment in America? We employed misguided stimulus packages that were practically toothless, extended unemployment benefits over and over again and passed out checks to old folks that could scarcely get them through a month at Old Country Buffet.

Europe, on the other hand, did something a little more sensible (for once).

From The Economist:

Europe’s policymakers, in contrast, appear to have a more coherent strategy: one which uses government money to subsidise a shortened work week, cuts labour costs and, in a few cases, offers tax subsidies to support new jobs. The OECD says 22 out of 29 of its member countries have extended support for workers on furlough, and 16 have cut payroll taxes and other social contributions. The countries doing these sorts of things are disproportionately in continental Europe.


God help you if you can't get behind a shortened work week.

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