Lessons learned from the financial crisis  As the last topic of my speech, I would like to offer my views on how we can avoid financial crises, based on the experience of addressing Japan's financial system instability following the bursting of the bubble economy. A.
At 4.2% in May 1999, the unemployment rate in the United States is almost the same as it was in 1970. In contrast, average European unemployment appears to have risen with each passing economic cycle. By the early 1980s the unemployment rates in the United States and Europe had broadly converged.