Report
The United States and the euro zone: The unemployment rate and productivity
Comparing the United States and the euro zone, we note: A far greater decline in productivity gains in the United States since 2004; A far lower structural unemployment rate in the United States. We believe that these two differences between the United States and the euro zone are related: the labour market flexibility and the low level of unskilled wages in the United States mean that the unskilled employment rate is higher in the United States than in the euro zone. This results in both a lower structural unemployment rate and a greater depression of productivity in the United States.
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Natixis
Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.
Patrick Artus
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