Since 1960, most European countries' unemployment rates have trended steadily upward, while US unemployment has shown virtually no trend increase. Average 1995 unemployment rates in France, Germany, and the UK were 6 to 10 percentage points higher than 1960 rates, while the 1995 jobless rate in the US was roughly equal to the 1960 rate.
Suggested citation: “International Developments,” Federal Reserve Bank of Cleveland, Economic Trends, no. 96-03, pp. 18-19, 03.01.1996.