"[PPP] equalizes the purchasing power of different currencies in their home countries for a given basket of goods. Using a PPP basis is arguably more useful when comparing differences in living standards on the whole between nations because PPP takes into account the relative cost of living and the inflation rates of different countries, rather than just a nominal gross domestic product (GDP) comparison."
And you're cherry picking unemployment figures, from particularly small countries.
I advised to abandon PPP not because that I think that is a bad meausure, but just to show that Europeans are _not_ making less money. And the reason for higher prices for stuff patially that are paid better salaries., so to produce things you need to spend more money. And also Europe produce more stuff for its own consumption, that makes goods more expensive.
Now it is you who is cherry-picking.
About unemployment:
Even if take EU average, we see that it is not
higher than American average 10%. It is at _worst_ equal.
Now USA often uses creative ways (unemployed but not seeking and all he other odd ways of meausuring) to meausure unemployment,
If you read alternative sources, you can often see 17% of real unemployment in USA.
No it is not making meaningfully different picture.
"[PPP] equalizes the purchasing power of different currencies in their home countries for a given basket of goods. Using a PPP basis is arguably more useful when comparing differences in living standards on the whole between nations because PPP takes into account the relative cost of living and the inflation rates of different countries, rather than just a nominal gross domestic product (GDP) comparison."
And you're cherry picking unemployment figures, from particularly small countries.
E.g. go to http://epp.eurostat.ec.europa.eu/tgm/table.do?tab=table&... and you'll see the 2009 November (September for the UK) rates for:
The above paints a rather different picture, doesn't it?