Bleak jobs report in Europe

[Anonymous]

Anonymous wrote:These sorts of generalisations aren't terribly helpful beyond highlighting the headline issues and higher level policy challenges. There are 27 countries in the EU and their situations can be very different. For example, youth unemployment is about 25% in Spain but less than7% in Germany.

You make it sound as if 7% for Germany is good. If the USA had a 7% unemployment rate, it'd be considered a catastrophic failure of an economy with massive unemployment. 7% is not good.

[Anonymous]

Anonymous wrote:For those of us considering working abroad, think again

Mario Draghi, a former head of the European Central Bank and former prime minister of Italy, was tasked by the European Commission with producing a plan to revive European competitiveness. As the final Draghi report makes clear, the EU has been in deep economic trouble for some time now. At the turn of the century, the EU and US were on a relatively equal footing. But, on a per-capita basis, real disposable income in the EU has grown at only half the rate of the US since the year 2000. The US now massively outperforms the EU in advanced technology. Only four in the world’s top-50 tech firms are European. Almost a million manufacturing jobs were lost in the EU in the last four years alone. The EU can no longer afford to be complacent in the face of this ‘calamity’, Draghi warns.

https://www.spiked-online.com/2024/10/19/the-slow-implosion-of-the-eu-project/

You wouldn't work abroad because of this?

[Anonymous]

I watch a lot of Swedish shows on YouTube and the clothing there seems much cheaper than the US. Nice jeans and a jacket for like 250 Kronor or ~$25.

[Anonymous]

Anonymous wrote:

Anonymous wrote:These sorts of generalisations aren't terribly helpful beyond highlighting the headline issues and higher level policy challenges. There are 27 countries in the EU and their situations can be very different. For example, youth unemployment is about 25% in Spain but less than7% in Germany.

You make it sound as if 7% for Germany is good. If the USA had a 7% unemployment rate, it'd be considered a catastrophic failure of an economy with massive unemployment. 7% is not good.

Germany's unemployment rate was 10% in 1997 and 12% in 2005. It's now 3%.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Europe has a huge problem with employment, reliable source or not, especially among young professionals. Situation is dire in Italy, Spain, Greece and other countries

The unemployment rate has actually improved a lot in Europe over the last decade. Still some way to go. Poor productivity growth is probably a bigger problem there now.

French person here. Yes. Also, please keep in mind, when you consider salaries, that healthcare is cheaper, daycare is subsidized, universities have free or low tuition, etc. So families can afford to have kids on much lower household incomes than here.

Don't forget the pension system. Nobody has to save for retirement. That's huge. You also don't need a car in many places.

Think of your most recent paystub and subtract all that you pay into for healthcare, retirement. Subtract the cost of daycare, 529s, school tuition bills, the total cost of your car. What is your actual salary in that case?

This is only relevant for someone living as dual income in a HCOL location. Most Americans aren’t saving much in a 529, don’t have school tuition bills and pay less for a car than they would in a European country. Most Americans also have employer provided health insurance.

I’ll give you daycare but that’s for a short period of time.

Americans earn much, much more money than Europeans even when you consider the social benefits.

You’re discounting that most Americans utilize state universities, send their kids to public school and save very little for college.

Given the above, do you think Americans generally are much happier than Europeans?

[Anonymous]

Anonymous wrote:No crap.

Pretty much the whole Euro zone stinks. Even if you are employed, their salaries are absolute garbage. EU is example #2847281 of what happens when you have crazy high taxes, too much big government, and the people expect all sorts of free handouts from the govt. Everything is so mediocre to subpar. Hard workers are taxed to death and have zero motivation to improve productivity when the govt confiscates 70% of it. There's zero motivation to invent things and be an entrepreneur because there are so many insane labor and tax laws that crush most anyone from trying. That's why the EU punches so far below its weight class for innovation and new companies that generate wealth. Everyone there relies on the govt for a thoroughly lower middle class lifestyle.

Europe is joke. My spouse works for a multinational company that has a euro team they have to interact with. The biggest problem is that they never work in Europe. Half the team is on vacation for a month and half at a time. They go into the office late and leave early. Are only allowed to answer communications between certain hours, etc. It's such a joke 'work' environment. If you want a thoroughly mediocre life in which you must rely on the govt for everything while taking home a very low salary, sure Europe might be good for you. All those vacation days and lack of productivity come at a cost though.

Another secondhand anecdote. Maybe your husband should change to another company. It must be really annoying for him when he wants to have a meeting at 5pm but discovers that everyone in the Paris has "left early".

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Europe has a huge problem with employment, reliable source or not, especially among young professionals. Situation is dire in Italy, Spain, Greece and other countries

The unemployment rate has actually improved a lot in Europe over the last decade. Still some way to go. Poor productivity growth is probably a bigger problem there now.

French person here. Yes. Also, please keep in mind, when you consider salaries, that healthcare is cheaper, daycare is subsidized, universities have free or low tuition, etc. So families can afford to have kids on much lower household incomes than here.

Don't forget the pension system. Nobody has to save for retirement. That's huge. You also don't need a car in many places.

Think of your most recent paystub and subtract all that you pay into for healthcare, retirement. Subtract the cost of daycare, 529s, school tuition bills, the total cost of your car. What is your actual salary in that case?

This is only relevant for someone living as dual income in a HCOL location. Most Americans aren’t saving much in a 529, don’t have school tuition bills and pay less for a car than they would in a European country. Most Americans also have employer provided health insurance.

I’ll give you daycare but that’s for a short period of time.

Americans earn much, much more money than Europeans even when you consider the social benefits.

You’re discounting that most Americans utilize state universities, send their kids to public school and save very little for college.

Given the above, do you think Americans generally are much happier than Europeans?

I lived in UK and France for a while. Can’t speak for white people but Americans are more welcoming and kind to immigrants.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Europe has a huge problem with employment, reliable source or not, especially among young professionals. Situation is dire in Italy, Spain, Greece and other countries

The unemployment rate has actually improved a lot in Europe over the last decade. Still some way to go. Poor productivity growth is probably a bigger problem there now.

French person here. Yes. Also, please keep in mind, when you consider salaries, that healthcare is cheaper, daycare is subsidized, universities have free or low tuition, etc. So families can afford to have kids on much lower household incomes than here.

Don't forget the pension system. Nobody has to save for retirement. That's huge. You also don't need a car in many places.

Think of your most recent paystub and subtract all that you pay into for healthcare, retirement. Subtract the cost of daycare, 529s, school tuition bills, the total cost of your car. What is your actual salary in that case?

This is only relevant for someone living as dual income in a HCOL location. Most Americans aren’t saving much in a 529, don’t have school tuition bills and pay less for a car than they would in a European country. Most Americans also have employer provided health insurance.

I’ll give you daycare but that’s for a short period of time.

Americans earn much, much more money than Europeans even when you consider the social benefits.

You’re discounting that most Americans utilize state universities, send their kids to public school and save very little for college.

Given the above, do you think Americans generally are much happier than Europeans?

I lived in UK and France for a while. Can’t speak for white people but Americans are more welcoming and kind to immigrants.

That’s nice but that wasn’t my question. I’m trying to understand whether the US having a stronger economy translates to everyone being much happier.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Europe has a huge problem with employment, reliable source or not, especially among young professionals. Situation is dire in Italy, Spain, Greece and other countries

The unemployment rate has actually improved a lot in Europe over the last decade. Still some way to go. Poor productivity growth is probably a bigger problem there now.

French person here. Yes. Also, please keep in mind, when you consider salaries, that healthcare is cheaper, daycare is subsidized, universities have free or low tuition, etc. So families can afford to have kids on much lower household incomes than here.

Don't forget the pension system. Nobody has to save for retirement. That's huge. You also don't need a car in many places.

Think of your most recent paystub and subtract all that you pay into for healthcare, retirement. Subtract the cost of daycare, 529s, school tuition bills, the total cost of your car. What is your actual salary in that case?

This is only relevant for someone living as dual income in a HCOL location. Most Americans aren’t saving much in a 529, don’t have school tuition bills and pay less for a car than they would in a European country. Most Americans also have employer provided health insurance.

I’ll give you daycare but that’s for a short period of time.

Americans earn much, much more money than Europeans even when you consider the social benefits.

You’re discounting that most Americans utilize state universities, send their kids to public school and save very little for college.

Given the above, do you think Americans generally are much happier than Europeans?

Non-east coast Americans, yes. The pace is much slower.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Europe has a huge problem with employment, reliable source or not, especially among young professionals. Situation is dire in Italy, Spain, Greece and other countries

The unemployment rate has actually improved a lot in Europe over the last decade. Still some way to go. Poor productivity growth is probably a bigger problem there now.

French person here. Yes. Also, please keep in mind, when you consider salaries, that healthcare is cheaper, daycare is subsidized, universities have free or low tuition, etc. So families can afford to have kids on much lower household incomes than here.

Don't forget the pension system. Nobody has to save for retirement. That's huge. You also don't need a car in many places.

Think of your most recent paystub and subtract all that you pay into for healthcare, retirement. Subtract the cost of daycare, 529s, school tuition bills, the total cost of your car. What is your actual salary in that case?

This is only relevant for someone living as dual income in a HCOL location. Most Americans aren’t saving much in a 529, don’t have school tuition bills and pay less for a car than they would in a European country. Most Americans also have employer provided health insurance.

I’ll give you daycare but that’s for a short period of time.

Americans earn much, much more money than Europeans even when you consider the social benefits.

You’re discounting that most Americans utilize state universities, send their kids to public school and save very little for college.

Given the above, do you think Americans generally are much happier than Europeans?

Non-east coast Americans, yes. The pace is much slower.

Why do you think the US always ranks so low compared to European countries in the various world happiness rankings (eg Oxford Uni, Economist)? Is it because those at the lower margin (ie poorest) drag down the US ratings (eg if you’re poor in the US, maybe you’re much unhappier than someone who is poor in many European countries)?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Europe has a huge problem with employment, reliable source or not, especially among young professionals. Situation is dire in Italy, Spain, Greece and other countries

The unemployment rate has actually improved a lot in Europe over the last decade. Still some way to go. Poor productivity growth is probably a bigger problem there now.

French person here. Yes. Also, please keep in mind, when you consider salaries, that healthcare is cheaper, daycare is subsidized, universities have free or low tuition, etc. So families can afford to have kids on much lower household incomes than here.

Don't forget the pension system. Nobody has to save for retirement. That's huge. You also don't need a car in many places.

Think of your most recent paystub and subtract all that you pay into for healthcare, retirement. Subtract the cost of daycare, 529s, school tuition bills, the total cost of your car. What is your actual salary in that case?

This is only relevant for someone living as dual income in a HCOL location. Most Americans aren’t saving much in a 529, don’t have school tuition bills and pay less for a car than they would in a European country. Most Americans also have employer provided health insurance.

I’ll give you daycare but that’s for a short period of time.

Americans earn much, much more money than Europeans even when you consider the social benefits.

You’re discounting that most Americans utilize state universities, send their kids to public school and save very little for college.

Given the above, do you think Americans generally are much happier than Europeans?

Non-east coast Americans, yes. The pace is much slower.

Why do you think the US always ranks so low compared to European countries in the various world happiness rankings (eg Oxford Uni, Economist)? Is it because those at the lower margin (ie poorest) drag down the US ratings (eg if you’re poor in the US, maybe you’re much unhappier than someone who is poor in many European countries)?

I think it’s related to population density. Hard to find friends with diverse interests when you live in the middle of nowhere, Kansas. I live in NY and it’s super rural 30 miles outside of nyc.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Europe has a huge problem with employment, reliable source or not, especially among young professionals. Situation is dire in Italy, Spain, Greece and other countries

The unemployment rate has actually improved a lot in Europe over the last decade. Still some way to go. Poor productivity growth is probably a bigger problem there now.

French person here. Yes. Also, please keep in mind, when you consider salaries, that healthcare is cheaper, daycare is subsidized, universities have free or low tuition, etc. So families can afford to have kids on much lower household incomes than here.

Don't forget the pension system. Nobody has to save for retirement. That's huge. You also don't need a car in many places.

Think of your most recent paystub and subtract all that you pay into for healthcare, retirement. Subtract the cost of daycare, 529s, school tuition bills, the total cost of your car. What is your actual salary in that case?

This is only relevant for someone living as dual income in a HCOL location. Most Americans aren’t saving much in a 529, don’t have school tuition bills and pay less for a car than they would in a European country. Most Americans also have employer provided health insurance.

I’ll give you daycare but that’s for a short period of time.

Americans earn much, much more money than Europeans even when you consider the social benefits.

You’re discounting that most Americans utilize state universities, send their kids to public school and save very little for college.

Given the above, do you think Americans generally are much happier than Europeans?

Non-east coast Americans, yes. The pace is much slower.

Why do you think the US always ranks so low compared to European countries in the various world happiness rankings (eg Oxford Uni, Economist)? Is it because those at the lower margin (ie poorest) drag down the US ratings (eg if you’re poor in the US, maybe you’re much unhappier than someone who is poor in many European countries)?

Happiness indexes are largely influenced by income disparity - of which the US is by orders of magnitude larger than Europe. Relative income inequality is far more predictive of general unhappiness than even general poverty.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Europe has a huge problem with employment, reliable source or not, especially among young professionals. Situation is dire in Italy, Spain, Greece and other countries

The unemployment rate has actually improved a lot in Europe over the last decade. Still some way to go. Poor productivity growth is probably a bigger problem there now.

French person here. Yes. Also, please keep in mind, when you consider salaries, that healthcare is cheaper, daycare is subsidized, universities have free or low tuition, etc. So families can afford to have kids on much lower household incomes than here.

Don't forget the pension system. Nobody has to save for retirement. That's huge. You also don't need a car in many places.

Think of your most recent paystub and subtract all that you pay into for healthcare, retirement. Subtract the cost of daycare, 529s, school tuition bills, the total cost of your car. What is your actual salary in that case?

This is only relevant for someone living as dual income in a HCOL location. Most Americans aren’t saving much in a 529, don’t have school tuition bills and pay less for a car than they would in a European country. Most Americans also have employer provided health insurance.

I’ll give you daycare but that’s for a short period of time.

Americans earn much, much more money than Europeans even when you consider the social benefits.

You’re discounting that most Americans utilize state universities, send their kids to public school and save very little for college.

Given the above, do you think Americans generally are much happier than Europeans?

Non-east coast Americans, yes. The pace is much slower.

Oh so cancer treatments and college education is free if you live in the interior?

[Anonymous]

Also, everyone knows the French don’t work hard. Like that’s not even a question. Some people would prefer not to work hard and get paid less as a result; the US is driven by a work ethic that isn’t in the same universe as French values, so it’s silly to compare productivity.

[Anonymous]

Anonymous wrote:Also, everyone knows the French don’t work hard. Like that’s not even a question. Some people would prefer not to work hard and get paid less as a result; the US is driven by a work ethic that isn’t in the same universe as French values, so it’s silly to compare productivity.

Haha, no French are just cynical and have a long literary tradition along that vein.

In America even the poorest dude thinks he’s two steps away from being a millionaire; meanwhile we have very low class mobility.

France is #12. USA is #27. Southern Europe doesn’t do as well, I will give you that. We are lumped in with Portugal and Spain.