The graph below shows the unemployment rates in the US and Japan between March 1993and March 1999.Write a short report for a university lecturer describing the information shown below.

The diagram illustrates unemployment rate tendencies in US and Japan, from March 1993 to March 1999, expressed in percentage of workforce.

First of all, it is clear how trends of US and Japan were quite symmetrical during the whole period. In fact, the general tendency of US rate was decreasing throughout the six years considered, whereas Japanese trend increased steadily exceeding US value in the end of 1998 at 4.5% threshold. The result at March 1999 is that US had for the first time, in the period considered, unemployment rate very close to 4%, while Japan had a rate over 4.5%.

Trends of both countries were very similar also in terms of volatility, considering that the whole period was characterized by continuous rises and drops. In detail, US rate decreased significantly from March 93’ to March 95’ losing 1.5 points, staying close to 5.5% threshold for one year before declining again until March 99’. A different trend characterized instead Japan rate, with a slow rise until March 96’, a period of stability around 3.3% threshold of roughly two years, and a final dramatic increase in the last year considered.

In the end, it is clear that rates had opposite trends through six years, with US having a better situation than Japan in the last period considered.