US jobless rate higher than competitors despite soaring profits
(NEWSER) - The US recession is over—at least, for businesses. US workers are still mired in it. Unlike its economic competitors, America's profits have bounced back to above 2007 levels, but the unemployment rate is higher than in Britain or Russia and much higher than in Germany, Japan, or China, notes David Leonhardt at the New York Times . Economists are split on the causes, but an obvious one appears to be American workers' loss of power, he notes. More»