Speaking via videoconference at the WEF's Davos Agenda event on Friday, Lagarde defended the ECB's policy, arguing that Europe did not share the United States'"state of excessive demand."
"When I look at the labor market we are not experiencing anything like The Great Resignation, and our employment participation numbers are getting very close to the pre-pandemic level," she added. Millions of Americans quit their jobs in recent months in pursuit of higher wages and better working conditions. The movement hasCore inflation — a measure that removes components that are vulnerable to volatility from the inflation figure — in the U.S. is at 5.5%, Largarde added, compared to 2.6% in the euro area.
The EU treats workers with more respect. They aren't chained to a job they hate because of health insurance, average 6 week per year vacation = more productivity
Maybe it has something to do with social nets like “medicare” for all and a living wage.
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