The stereotype of lazy southern Europe and the hard working North is just not reflected in the data. We came across this BLS data set over the weekend which was very enlightening and, in part, smashes this widely held generalization.
First, a couple caveats. It is macro data — total number of hours worked in an economy divided by the number of people employed –, may be subject to measurement errors, doesn’t take into account productivity per worker, and ignores deleterious labor policies that may contribute to unemployment.
Nevertheless, the data and charts below show that the average number of hours worked for an employed person in Italy – 1,778 hours in 2010 – is 25 percent higher than that of Germany’s 1,419 hours. The French are not far off. The average number of hours worked by an employed person in France was 339 hours less than in Italy, or Italy’s average hours worked was 23 percent higher than France. Surprising, no?
The data also interestingly shows that Ireland’s average number of hours worked increased dramatically from 2009-10, increasing by over 7 percent. The market seems to like it as Ireland’s bonds have been some of the best performing in the world since July with their sovereign spread over 10-year German bunds tightening more than 500 basis points.
Unfortunately, we didn’t have data for the rest of the European periphery.
(click on chart and table for better resolution)
(click here if charts are not observable)
Global Macro Monitor 
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I like Your approach and theme of discussion !
Because that is where the REAL LONG TERM DISCUSSION SHOULD BE .
WE … in the Western World need to WORK HARDER .. if we want to maintain our standards of living facing the competition from the WORLD .
In short :
WORK HARDER.. SPEND LESS… SAVE MORE
It is as simple as that .. in line with AUSTERITY Measures under way ..by the EUROPEAN UNION .. ( minus the UK eventually ) .. and a SURE WAY of securing the future of our nations
That said .. we should ofc deploy this hard work ..in an INTELLIGENT WAY also .. as to maximize the effect of such . Also here .. my opinion is ..that a WELL EDUCATED GENERAL POPULACE .. combined with an INFRASTRUCTURE second to none as is present in EUROPE is a great plus
A prerequisite for such a general response is though that Gouvernments dont STEAL the FRUITS of peoples labour and savings .. by DEBASING the means of exchange : THE MONEY .
It appears that the Leaders of EUROPE ( minus the UK ) understand that and do NOT want to engage in excessive ” QUANTITATIVE EASING ” … if they can avoid it .
Exactly, Ole. Thanks for the post….
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