American "Jobs Machine" Falling Behind Europe
For Immediate Release: October 10, 2006
Contact: Lynn Erskine, 202-293-5380 x115
Washington, DC: The United States is lagging behind Europe in job creation, according to a report by the Center for Economic and Policy Research. In the 1990s, the United States developed a reputation as a "jobs machine" capable of creating jobs at a far faster rate than Europe. However, between 2000 and 2005, U.S. employment grew more slowly than in the European Union.
The briefing paper, "Whatever Happened to the American Jobs Machine?," by economist John Schmitt, analyzed total job growth in the United States and the European Union (EU-15) as measured by the Organization for Economic Cooperation and Development (OECD). The OECD’s data show that the American jobs machine is ailing.
To read the paper, click here.
“I think most Americans would find it remarkable that France actually created jobs at a faster rate than the United States did between 2000 and 2004," said Schmitt. "In 2005, the United States finally managed to pull ahead of France, but we still trail behind Europe as a whole."
Since 2000, Spain, Ireland, Greece and Italy all have managed to create jobs at a faster rate than the United States. The UK and Belgium have matched U.S. job growth rates in the current decade through 2005. France, Finland, and Sweden have trailed fairly closely behind the United States.