NCPA - National Center for Policy Analysis

Europeans Question American Job Growth

July 2, 1996

During the recent G-7 summit, French President Jacques Chirac opined that many of the new jobs being created in the U. S. "are low paid jobs we wouldn't accept in Europe."

For the record, however:

  • The U. S. created about 20 million new jobs during the 1980s and another 8 million so far in the 1990s.
  • Over the same period, Europe created only about 6 million new jobs.
  • While western Europe is struggling to get unemployment below 10 percent, our unemployment rate is about 5.6 percent.
  • Workers remain the most productive by far as well as the best paid.

Economists advise the leaders of France and Germany -- who are trying to negotiate cuts in government spending with powerful labor unions -- to keep in mind the model of the Reagan boom years, during which lower taxes, fewer regulations, economic growth and job creation built a much stronger economy.

Source: Editorial, "Lecture From Lyon," Investor's Business Daily, July 2, 1996.


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