#COVID-19 fallout: The US Unemployment rate is far worse than most comparable economies

Except for France, US has worse unemployment than all major industrialized countries.

The Florida Squeeze

While the entire industrialized world has now experienced COVID-19, the US unemployment rate of nearly 20% (claims) or 40% (overall)* is significantly higher than comparable economies in the United Kingdom, Japan, Germany, Australia, the Netherlands, Canada, Austria, etc.

Strangely even the more left-leaning media hasn’t covered this properly and has failed to compare the US’ awful rate of unemployment to the more manageable rates in nation’s equally or almost equally hard-hit by Coronavirus.

Among major industrialized nations, only France which had a flurry of strikers and raging civil disobedience BEFORE COVID-19 is in the same territory.

So why is this? We all have theories, and I believe it lies in a combination of the crony capitalist construct of the US economy as well American business lack of long-term planning and safety net. Also the growth of “McJobs,” in the last decade and the Gig Economy since 2009 contribute.

I am…

View original post 32 more words

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.