Mind the widening gap between the euro area and the UK/US

by Marco Antonielli, Silvia Carrieri, Carlos De Sousa and Michele Peruzzi

[this blog first appeared here]

In these charts of the week we show how the euro area (EA) is lagging behind its two major advanced economy counterparts in a few key macroeconomic variables. Without blaming responsibility or drawing causality from any particular policy measure, these simple metrics only intend to show the relative under-performance of the EA vis-à-vis the UK and US. The data range from 1999 to the first quarter of 2014.

Two of the most striking charts relate to the Unemployment Rate and to GDP per person employed, a measure of labour productivity.

Unemployment rate

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GDP per person employed

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