Although terrible for the affected, in the US the unemployment right now is 5%, hardly a catastrophe.
10% average in Europe is not horrible. If you take Spain (24%) or Greece (26%) yes, is bad, but is not sustainable and most probably things will improve in a few years... but I'm talking about decades of population reduction.
>Although terrible for the affected, in the US the unemployment right now is 5%...
U3 is a fanciful number, both because people are using disability insurance as a way to collect benefits indefinitely and because once you give up looking for a job you don't count as unemployed. The US has the lowest labor force participation rate in decades.
