Blogs > HNN > US UNEMPLOYMENT WORSE THAT OF GERMANY, FRANCE , BRAZIL & JAPAN

Nov 10, 2009 8:11 pm


US UNEMPLOYMENT WORSE THAT OF GERMANY, FRANCE , BRAZIL & JAPAN



To read headlines of American papers, one would conclude that Germany is in trouble, indeed, the entire world is in trouble, suffering from increasing unemployment. The reality is different. AP reports: World unemployment up despite economic recovery. The reality turns out to be different. German unemployment, unlike the American one, is continuing to drop. Do remember unemployment in both Germany and the US stood at 7.2% in Dec. 2008. Yes, before Obama passed the over half a trillion dollar stimulus.

Now, in October 2009 American unemployment is at 10.2%. German unemployment is down to 7.7%

GERMANY — German unemployment fell for a second month in October, but the effects of the financial crisis lingered and it is still too early to expect a turnaround in the economy, the country's labor ministry said. The unadjusted jobless rate in Europe's biggest economy was 7.7 percent, down from 8 percent the previous month and below the 8.3 percent in August, the Federal Labor Agency said. The dip in unemployment comes nearly two weeks after the German government raised its growth forecast and predicted that Europe's biggest economy will expand by 1.2 percent in 2010, up from an earlier prediction of 0.5 percent.

Even French unemployment only rose to 9.8%

Japanese unemployment declined to 5.7%

British unemployment reached only 7.9% in August and that of Brazil 8.1%

Do you think the uncertainty created by the health care and cap& trade legislation may have something to do with it?

I do.




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