Another factor that might explain why US unemployment is lower than European countries like France & Germany.
The barriers to hiring & firing workers are typically much higher in most European countries. In the US, the laws make it easier to hire & fire, so the employment process is more "efficient".
France has both difficult firing and minimum wage. In Germany it's not as bad: Firing is difficult, but there's no minimum wage for most jobs. Unfortunately minimum wage laws are all the rage, now.
Comments
Another factor that might explain why US unemployment is lower than European countries like France & Germany.
The barriers to hiring & firing workers are typically much higher in most European countries. In the US, the laws make it easier to hire & fire, so the employment process is more "efficient".
France has both difficult firing and minimum wage. In Germany it's not as bad: Firing is difficult, but there's no minimum wage for most jobs. Unfortunately minimum wage laws are all the rage, now.