... who for a number of various reasons are choosing not to work. These reasons are crucial to achieving the 70% employment rate. To achieve the 70%, the EU should look to other countries where the employment rate is 70% and above, such as the US. Since 1975, the EU has trailed behind both the United States and Japan in terms of job creation. Since then, the average annual rate of job creation has been about 0.5%. Why does the US do better than the EU in terms of job creation? It has to do with a lot of factors, and not just with labour market flexibility. But what is flexibility, exactly? It is often interpreted as the extent to which a firm can hire or fire its employees. In this sense, the US is said to be a lot more flexible than we are in Europe. The US worker does not have ...

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