OECD: Europeans Less Satisfied than Others

People across the developed world are less satisfied and more suspicious of their governments than they were before the financial crisis began, with the euro zone feeling worse than their U.S. counterparts, a new study by the Organization for Economic Cooperation and Development (OECD) found.

While average life satisfaction levels across the 34 member countries of the OECD have dipped slightly between 2011 and 2012, the overall score has stayed fairly level in the five years since the collapse of Lehman Brothers. However, individual countries showed wide differences in satisfaction levels. Between 2007 and 2012, the “How’s Life?” report finds that average life satisfaction declined by more than 20 percent in Greece, 12 percent in Spain, and 10 percent in Italy, as the hardest-hit euro zone countries struggled with high unemployment and severe austerity measures.

Meanwhile, satisfaction levels fell slower in the U.S. declining by 7 percent in the four years to 2012. And Germany, Israel, Mexico, Russia and Sweden all saw increases in their satisfaction levels.


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