The provided graph compares the unemployment rate in the US and Japan from March 1993 to March 1999.
Overall, the percentage of the workforce in the US was slightly higher compared to Japan at the start, but the US rate later declined while Japan’s increased.
As illustrated in the graph, the unemployment rate in the US was high at first, with the proportion of the workforce accounted for 7.0% in March 1993. In contrast, Japan’s percentage of the workforce was initially about 2.3%.
It is clear that the unemployment rate was higher in the US than in Japan in the initial comparison year of 1993. This situation later changed. At the end of March 1999, Japan saw a significant rise in unemployment, which peaked at 4.7%. However, for the US, the unemployment rate dropped from 7.0% to 4.2%. That means there was more unemployment in Japan than in the US at the end of the period.
An interesting point which is notable is that both rates were unstable throughout the period. The US rate was decreasing while Japan’s was increasing.