American "Jobs Machine"
Falling Behind Europe
For Immediate Release: October 10, 2006
Contact: Lynn Erskine, 202-293-5380 x115
Washington, DC: The United States is lagging behind
Europe in job creation, according to a report by the Center for
Economic and Policy Research. In the 1990s, the United States developed
a reputation as a "jobs machine" capable of creating jobs at a far
faster rate than Europe. However, between 2000 and 2005, U.S.
employment grew more slowly than in the European Union.
The briefing paper, "Whatever Happened to the American Jobs Machine?,"
by economist John Schmitt, analyzed total job growth in the United
States and the European Union (EU-15) as measured by the Organization
for Economic Cooperation and Development (OECD). The OECD’s data show
that the American jobs machine is ailing.
To read the paper, click here.
“I think most Americans would find it remarkable
that France actually created jobs at a faster rate than the United
States did between 2000 and 2004," said Schmitt. "In 2005, the United
States finally managed to pull ahead of France, but we still trail
behind Europe as a whole."
Since 2000, Spain, Ireland, Greece and Italy all
have managed to create jobs at a faster rate than the United States.
The UK and Belgium have matched U.S. job growth rates in the current
decade through 2005. France, Finland, and Sweden have trailed fairly
closely behind the United States.