A new report by the Bureau of Labor Statistics reveals that the United States has one of the highest unemployment rates in the industrialized world, only second to Sweden.
Sweden came in with an 8 percent unemployment rate, beating the U.S. with 7.7 percent in the November report. Japan had the lowest jobless rate at 3.7 percent.
Sweden's government-funded employment agency has even urged the country's citizens to look for work in poverty-stricken Greece.
Sweden was just below the U.S. rate in October and September, with Italy and France taking the top slots.
Some developed countries, such as Spain with a crippling 26 percent unemployment rate, were not included in the BLS comparisons program.
Distributed by MCT Information Services
Most Popular Stories
- Obama Administration Releases Proposal to Regulate For-Profit Colleges
- Some California Cities Seeking Water Independence
- Motley Crue's Nikki Sixx Marries Model Courtney Bingham
- Chinese e-Commerce Giant Alibaba Gears for IPO in U.S.
- Apple, HP, Intel May Take a Hit from Slowdown in Smartphone Sales Growth
- FDIC Files Lawsuit on Behalf of Banks Allegedly Hurt by Libor Scandal
- SoCalGas Reaches Record Spend on Diversity Suppliers
- Obama Seeks to Stay Neutral in CIA-Senate Conflict
- Will Missing Malaysian Jet Prompt Aviation System Change?
- GM Recall Poses First Major Test for New CEO