Saturday, June 8, 2013

Times: Rival Nations Surpass U.S. in Economic Recovery, Job Creation

Posted By on Sat, Jun 8, 2013 at 11:15 AM

While the nation's economy has had a 32-month stretch of job gains since the recession, the United States still lags behind several other nations that have had greater success weathering the economic storm.

In fact, while U.S. employment is about 2 percent below where it was at the end of 2007, the number of jobs was up 8.1 percent over the same period in Australia, and Germany has manged a 5.8 percent gain in employment.

This morning's New York Times reports that Canada, Sweden and even Britain "have enjoyed healthier job gains than the United States." Of the nine superpowers surveyed by the Bureau of Labor Statistics, only Italy and Japan performed worse.

The Times reports that a number of the countries have generated jobs on the basis of strong exports.

"Germany was powered ... by shipments of machinery, cars and other products of its high-end manufacturing industries," reports the Times. "Australia emerged largely unscathed from the downturn, thanks to booming Chinese demand for raw materials."

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