The line graph illustrates the rates of unemployment for the United States and Japan for the 6-year period beginning March 1993.
Despite some minor fluctuations in figures for both countries during each year, it is clear that Japanese unemployment rate saw a gradual rise year on year over the period, while America witnessed a similarly gradual change in the opposite direction. Initially there was a marked discrepancy between the two countries, but by the end of the period, it had all but disappeared.
In March 1993, the US had an unemployment rate of 7% overall, while Japan was enjoying a relatively low rate at only 2.5%. In the year that followed, both countries’ unemployment rates changed rapidly, with America’s falling by 1% and Japan’s rising by 2%. The trends in both countries continued, albeit at a slightly slower pace, such that by March 1998, the US had shaved a further 1% off its rate, and Japan’s had grown by another 2%, so that they were almost equal (4.9% and 4.6% respectively). After March 1998, Japan’s rate spiked to match that of the US, and afterwards, both countries’ figures fluctuated slightly before stabilising at 5% a piece.