Homework Answers
Question 5
Unemployment benefits provided by a country to unemployed workers tends to impact the unemployment rate.
In European countries, unemployment benefits are much higher than in the United States.
These unemployment benefits are higher both in terms of period for which unemployment benefits is provided as well as in terms of replacement rate.
This higher time period and replacement rate in Europe relative to United States induces unemployed in Europe to take more time to search job and to select job that they think suited best to their skills.
So, unemployment period tends to be higher in European countries than in the United States.
This higher unemployment period translates into higher unemployment rates in European countries than in the United States.
Note -: As HOMEWORKLIB Answering Policy, in case of more than 1 question is posted, 1st question is answered with elaborate explanation.
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5. Why do unemplpyment rates in European countries tend to be higher than in the U.S.?...
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