In 20 years, the labour market situation has deteriorated considerably in the United States relative to the euro zone

It is still often thought that the labour market functions more efficiently in the United States than in the euro zone: greater flexibility, greater sectoral and geographical mobility, etc. The unemployment rate is a misleading indicator; it depends on unemployment benefit rules and job search behaviour. It is better to look at the employment rate and the participation rate. In 20 years, they have fallen sharply in the United States relative to the euro zone, which shows a deterioration in the functioning of the US labour market. How can this be explained? The low wages in the United States, which do not encourage Americans to enter the labour market; The low labour force skills and the poor quality of the education system in the United States, but this argument must be put into perspective because the same situation is emerging in the euro zone; The decline in the geographical and sectoral mobility of employees in the United States; The rapid digitisation of US companies, which have thereby substituted technological capital for labour. This deterioration in the US labour market makes the skewing of income distribution against employees even more unbearable.