The reason I particularly like this stat is that it is a function of two things;
1. How lazy a people are in a particular country
2. How generous (or stingy) that country’s unemployment benefits are.
However, this time around they included two countries I hadn’t noticed before;
Mexico and Korea.
CRIPES!!!
Barely 1% of people unemployed in these countries, have been unemployed for over a year. Contrast that with 13% in the US and I’m almost half tempted to believe there are actually jobs Americans won’t work that Mexicans will.
That being said, it’s not like 13% is atrocious. Now if you want atrocious, why just take a swim across the Atlantic to our European counter parts where you can find countries like Germany, Italy, Greece and the Slovak Republic where OVER HALF THE UNEMPLOYED PEOPLE HAVE BEEN SO FOR OVER A YEAR!
Alas, given the protests in France against the labor market reforms, not to mention the protests against Schroeder’s Hartz IV reforms, it seems Europe has no intention on changing.
screw those hippies in france, everything I've read make sit out to seem like they are upping the ante and pampering those people who deserve to be a "permanent" employee.
ReplyDeleteI'll show them some vengeance.
arriba~!
ooops what that means is I am for the reforms that france has been pushing for but i will say this pre riot sex must ne amazing.
ReplyDeleteYeah, but that wouldn't have an effect on the people still living in Mexico. 50% could come here and the long term unemployment rate wouldn't be affected. THey either have very little in the way of welfare or they work hard. And based on how many of them come to work, legal or illegally, I'm assuming it is more a hard work ethic.
ReplyDeleteAnd any stats you see on Korea, it's referring to South Korea. The world of economics just assume North Korea doesn't exist, unless you want to mock where the road of socialism leads.
Thanks Bucktown.
ReplyDeleteWhat I don't get is why the Mexican government encourages them to leave. I know remittances result in an extra 2% GDP in Mexico from America, but you'd think they'd want them down there which would result in a bigger economic boost.
Like I said, I'm all for cheap labor wanting to move here. Will force Americans to do waht they used to do best, and that's innovate and lead, but I'd be curious to see what would happen once the US gets a severe recession and we start laying off people.
Ah, a nugget of knowledge I did not have before. Thanks Edward!
ReplyDelete