While the entire industrialized world has now experienced COVID-19, the US unemployment rate of nearly 20% (claims) or 40% (overall)* is significantly higher than comparable economies in the United Kingdom, Japan, Germany, Australia, the Netherlands, Canada, Austria, etc.
Strangely even the more left-leaning media hasn’t covered this properly and has failed to compare the US’ awful rate of unemployment to the more manageable rates in nation’s equally or almost equally hard-hit by Coronavirus.
Among major industrialized nations, only France which had a flurry of strikers and raging civil disobedience BEFORE COVID-19 is in the same territory.
So why is this? We all have theories, and I believe it lies in a combination of the crony capitalist construct of the US economy as well American business lack of long-term planning and safety net. Also the growth of “McJobs,” in the last decade and the Gig Economy since 2009 contribute.
I am curious our readers thoughts on this.
*This is an edit after publishing. Either metric is kept consistent from nation-to-nation has the US faring worse than all but France among major industrialized nations.