Table 1 Accounting for changes in the unemployment rate during the Great Recession, 2008Q1-2009Q4 (%)
From: Reforming an insider-outsider labor market: the Spanish experience
US | Germany | Spain | ||||
|---|---|---|---|---|---|---|
Unemployment rate | Δu | 6.1 | -0.4 | 11.2 | ||
Output | ΔY/Y | -2.4 | -5.4 | -5.0 | ||
Productivity | Δ(Y/H)/(Y/H) | 6.0 | -3.0 | 2.7 | ||
Hours/worker | Δ(H/N)/(H/N) | -2.2 | -2.6 | 1.8 | ||
Labor force | ΔLF/LF | -0.1 | -0.2 | 1.7 |