The flexible statisticians of the World

The labor market breaks in the U.S., however, the growth in Japan and Europe. Very pretty.
Today, the U.S. once explicitly praised. For in the fire of the world economy in the fourth quarter was just a GDP decline of 0.8 percent the previous year, while the euro zone rose 1.3 percent and even Japan shrank by 4.6 percent.

That is remarkable, as employment and unemployment rates in the U.S. much more dramatic than worsened in the other two major industrial regions. In the harmonized Eurostat definition, the unemployment rate in the U.S. between December 2007 and December 2008 by 2.3 percentage points in Japan and the euro area, however, only increased by 0.6 and 0.8 percentage points.

As the U.S. public on Friday’s employment report showing the unemployment rate in its broadest definition official in February 2009 by nearly one percentage point increase the previous month – seasonally adjusted. In this definition includes as an unemployed person who is in the past twelve months for a job he has worked hard, but not in the past four weeks. Moreover, those who collected, although happy to accept a full employment would be the macro-economic circumstances, but only for part-time jobs can find.

Overall, the calculated U.S. unemployment rate now at 14.8 percent satte increased. This is by far the highest value since initial recognition of these “extended” unemployment rate in 1994, the “official” start of the current recession in the fourth quarter of 2007 this ratio stood at around 8.5 percent. So bleak is the labor markets in Europe and Japan look like: From such a bad situation in these regions can hardly be any question.

So how is it that the U.S. economy nevertheless appears to suggest better than those of Europe and Japan? The standard answer is that the U.S. is the most flexible economy in the world. Moreover, countries with high value added industries such as Japan or Germany harder burglary of the goods affected demand. Maybe. Just stay even the statisticians in the United States more flexibility than any other in the world when it comes to hedonic and other tricks goes. For instance, the U.S. real value added in 2008 allegedly dwelling use by 2.1 percent. Therefore again: The fact that the United States such investors still buy the land belongs to explicitly praised.

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