In: Economics
As of March 2020, the average unemployment rate in Europe (6.6%) is higher than in the U.S. (3.5%).
A. Explain one difference between the European and U.S. economies that is consistent with more structural unemployment in Europe.
B. Explain one difference between the European and U.S. economies that is consistent with more frictional unemployment in Europe.
The average unemployment rate is more in Europe than the u.s .The reason mainly because of main reason on the bases of structural unemployment condition..It means there is long gap between the job opportunities and skill levels of the unemployed persons.
Which make the economy is more unemployment rate like the
European countries. The mainly the structural unemployment created
in those countries because of facing recession situation of the
economy. But compare with the u.s countries the structural
unemployment conditions are solved now a days.... And it's better
to have employment opportunities to all.
European recession is made this unemployment rate become high.and
also the standard and quality of jobs are comparatively available
more in us than europe.the poor quality and standard in jobs make
more in sturutural unemployment
B) frictional unemployment is. When the workers jobless and they
feel to get a job to a good and better economy. So they independant
create this type of employment. So in this case the frictional
unemployment is more in us because of high qualification of the
individuals . It is much lesser in European countries.and it can
avoided as normallly