EUROPE'S JOB CRUNCH

COMPARED WITH THE U.S., ITS CARING ATTITUDE ON JOBS AND LAYOFFS MAY BE BRINGING MORE GRIEF THAN RELIEF

JOB INSECURITY GOT YOU DOWN? WORried about all those new dead-end, low-pay McJobs that masquerade as gainful employment? Maybe the U.S. should look to Europe, where unions are still muscular, minimum wages high, and most workers insulated from the brutal hire-and-fire culture that characterizes mid-1990s America.

Then again, maybe not. The rich benefits that have made Europe a sweet place to work have clogged its economic arteries. Call it Eurosclerosis--the combination of a staggering tax burden and a blanket of regulations that smother new businesses and entrepreneurship. Symptoms: Europe's unemployment rate of 11% is twice as high as the U.S.'s, and...

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