There is a stark contrast between what the unemployment scenario was before the global crisis and after for the developed world. As today's chart of the day shows, barring Germany, unemployment for most developed countries has surged post the crisis. Indeed with so much debt and stagnation in growth, hiring plans have gone for a toss. And the governments' plan of pumping in stimulus measures has also proved a damp squib relying as it does on consumption. With incomes shrinking and the prospect of unemployment looming large, citizens in these countries are wary of going on a consumption spree. This means that the governments in both these regions will have to come out with something more radical if growth has to take off.

Data Source: The Economist