Early indications are that European job losses are much smaller than US; it will be a couple of months before we have hard data 1/ washingtonpost.com/world/europe/h…
One thing people forget is that in the first two years after the 2008 crisis US employment did much worse than Europe. Changes in U from pre-crisis trough: 2/ 
Europe only started to underperform when the euro crisis and austerity mania hit 3/
