We win again. In part, yes. When governments force businesses to pay workers to be idle beyond what is justified by the businesses' productivity, less wealth is produced, more capital is consumed and the result will be lower job-creation rates, lower real pay, or both. In addition, Europe heavily regulates labor markets. Wages for the most part are set by governments, in conjunction with labor and corporate elites, rather than by markets.
Unemployment benefits are generous.
Taxes and regulations make it costly to hire workers and difficult to dismiss them. Thus businesses create few jobs. Consider the mindset of those who impose such destructive policies. The French government also cut the workweek to 35 hours with no cut in pay, on the theory that businesses would hire more workers to take up the slack. Government police now literally raid offices and fine workers for working too much.