U.S., Japan and Germany Unemployment Continues To Improve

Filed under: International,Labor,News,The Economy |

But Many Euro Area Economies Still Struggling

In February, unemployment fell in Japan, Germany and Sweden, according to unemployment rates and employment growth data compiled and standardized by The Conference BoardInternational Labor Comparisons (ILC) program.

Unemployment experienced the largest increase in the Netherlands (from 7.1 to 7.3 percent), followed by the U.S. (from 6.6 to 6.7 percent), France (from 10.0 to 10.1 percent) and Italy (from 13.0 to 13.1 percent). In the Netherlands, unemployment has been on an increasing trend since July 2012. While joblessness in the U.S. increased for the first time since December 2012, it remains on a downward trend. Meanwhile, unemployment in Italy (13.1 percent) reached an historic high.

“Despite a slight increase in U.S. unemployment in February, joblessness remains on a downward trend not only in the United States, but also in the United Kingdom, Germany, and Japan,” said Elizabeth Crofoot, Senior Economist with the International Labor Comparisons program at The Conference Board. “Coupled with strong employment growth over the past twelve months, labor markets in these countries are rebounding, while labor markets in euro area economies—namely France, Italy, and the Netherlands—have yet to show signs of improvement.”

Declining unemployment in February was accompanied by an increase in the employment index (2007 = 100) in Japan (from 99.1 to 99.3), Germany (from 108.5 to 108.6), and Sweden (from 104.4 to 104.6). Employment also rose in the U.S. (from 99.4 to 99.5) and Australia (from 111.8 to 112.3). Except for the U.S., all countries compared that experienced rising unemployment in February also experienced declining employment levels.

Source: The Conference Board

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