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August 1983, Vol. 106, No. 8
Labor market contrasts:
United States and Europe
Janet L. Norwood
Analysis of data on the U.S. labor market cannot be done in isolation. The economic growth so necessary to sustain a vigorous recovery in this country simply cannot be achieved without simultaneous recovery abroad. Thus, if we are to evaluate effectively the state of our own economy, we must give attention as well to developments abroad.
As the world economies have become more closely tied together, we find that some of Europe's experiences presage our own. More recently, however, it is becoming clear that many of our experiences may well become a part of Europe's future. Nowhere is this more true than in labor market behavior. This article reviews some of the similaritiesand the differencesin labor market conditions between the United States and Western Europe.
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