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Unemployment In the U.S. Is Actually Worse Than In Pakistan

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THE GLOBAL BREADLINE
DailyFeed
Our labor market remains lousy and policymakers argue that considerable time likely will be required before the unemployment rate has returned to a more normal level.

Specifically, Ben Bernanke and his allies on the FOMC expect the unemployment rate to still be close to 8% two years from now. At this rate of improvement, it could take four to five more years for the job market to normalize fully.

Still, while aware of just how tough the jobs picture looks, many tried-and-true Yankees might assume that countries around the world suffer with unemployment rates just as elevated as ours.

Not true.

As our buddies at Bespoke point out, the reality is that the US ranks pretty poorly compared to the rest of the world.

“The Eurozone is at similar levels to the US, but when most of the countries that have a higher unemployment rate than the US are collectively referred to as PIGS, it's not very encouraging,” Bespoke emphasizes.
bespoke
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