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Re: BBC Puzzle

> Why does the BBC report that the US jobless rate at 5.1% represents > "serious recession", while reporting the UK rate _increasing_ to 5.5% > means the good times are here ?:-)
5.1% is a bigger deal if you don't have the social infrastructure (public health care, etc.) to support the unemployed.

A rising unemployment rate in Britain or many EU countries means downward pressure on inflation (a good thing) with less down side for the economy overall. Businesses over there operate with lower overhead, since they aren't saddled with the same defined benefit costs that US businesses are.

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Paul Hovnanian     mailto:Paul@Hovnanian.com
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Paul Hovnanian P.E.
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Huh? I've lived over there. Businesses in Germany, for example, had to pay 50% of the health care premiums. By government mandate. Here in the US they don't have to pay at all (in most states). Then came the social security tax which is staggering over there, probably north of 18% by now and AFAIR the employer was saddled with half of that as well. Then they had to run some kind of ombudsman system called Betriebsrat, and those people were on payroll. Plus a whole lot of other mandates, fees, taxes, sick leave, maternity leave, job guarantee after maternity and so on.

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Regards, Joerg

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Joerg

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