Discussing job losses, Paul Krugman writes that the United States, where “employment has fallen more than 5 percent, and the unemployment rate has more than doubled” has something to learn from Germany, where “employment has fallen only half a percent, and unemployment is only slightly higher than it was before the crisis (“Free To Lose,” November 13, Opinion)."
However, data from the U.S. Bureau of Labor Statistics shows that from German unification in 1990 through the end of 2008, the United States’ employment-to-population ratio was higher in every single year. Furthermore, the data also show that during the same time period, with the exception of the years 1990-1992, the unemployment rate in the United States was significantly lower than that of Germany.
Dr. Krugman may be correct when he claims that we have something to learn from how Germany has coped with its recession but I think they have something to learn from us as well.
Friday, November 13, 2009
Leaving Out a Few Details Doesn't Strengthen Your Case
Below is a letter I sent to The New York Times:
Labels:
Germany,
New York Times,
Paul Krugman,
recession,
unemployement,
United States
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