Germany's "short-work" policy, which allows companies to put workers on reduced schedules rather than lay them off, showed the world how to survive a recession without losing jobs. It turns out there's a trade-off: As the econo-rnmy recovers, it looks like hiring will be sluggish. That could stymie household spending and slow growth.rnWhile the worst recession since World War II pushed up unemployment in the U.S. to 10.1 percent, a 27-year high, in Germany the rate fell well below 8 percent, a 17-year low. Last year the government subsidized employers, including Siemens and Volkswagen, so they would keep employees working at reduced hours rather than fire them.
展开▼
