Employment to Population Ratios, Ages 15-64
Source: OECD. StatsExtract
Germany is the unambiguous star of employment to population improvements. And the US is the unambiguous goat.
Note Italy's employment to population ratio, 56 per 100, versus Switzerland, 79 per 100. In Italy, compared to Switzerland, a full 23 people in every hundred of working age population are not employed. So what are the policy lessons? Does Italy need easy money, or root and branch labor market reforms?