A couple of decades ago, James Carville, the Democrat strategist, coined the phrase "It's the economy, stupid" for Bill Clinton's election campaign. This year, however, the better slogan would have been "It's the jobs data, stupid". For there is no other economic issue that has dominated the US political landscape as much as the vexed question of jobs. During most of the post-war period, Americans could afford to feel fairly proud about how their system got people into work: the unemployment rate was far lower than that of Europe, and the labour market seemed to be among the most flexible in the world. But in the last four years, this sunny self-confidence has been shaken as unemployment has jumped. So does this mean that the American system - like many of its people - no longer "works"? Or is this just a cyclical phenomenon that will soon correct itself? These are the key questions that the Financial Times set out to explore in a series which has now been updated as an ebook, drawing on the expertise of the leading global business newspaper's columnists and reporters across the United States.
The Financial Times is one of the world's leading business news and information organisations, providing a broad range of services to the growing audience of internationally minded business people.
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The Financial Times is one of the world's leading business news and information organisations, providing a broad range of services to the growing audience of internationally minded business people.