Over the past decade, European employment has grown by less than 10 per cent, while US employment has grown by 17 per cent, creating more than 2.2m jobs last year alone.
US figures last Friday showed continued growth in employment, with 207,000 payroll jobs created in July. The increase in payroll jobs for May and June went from a total of 250,000 to 292,000. The unemployment rate remained at a low 5 per cent, and an additional 450,000 people moved into the workforce. With such positive data, the US Federal Reserve will continue to gradually increase interest rates.
