What caused unemployment to decline in the uk at same time

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Reference no: EM132127485

Question: From 1992 to 1997, the unemployment rate in the US declined from 7.5% to 4.9%, while at the same time it rose from 8% to over 12% in continental western Europe.

(A) What factors caused the unemployment rates to diverge in these two regions?

(B) In the UK, the unemployment rate rose sharply through 1993, peaking at 10.5%, but it then declined to 6.3%. What caused unemployment to decline in the UK at the same time it continued to rise across the Channel?

Reference no: EM132127485

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