On the surface, protests on both sides of the Atlantic bear a remarkable resemblance: Tens of thousands marching against measures that would affect their livelihoods.

But the contrast is sharp.

In France, more than a million demonstrators are defending their access to a rigid system where a job, once found, often lasts for life. They plan to rally again Tuesday to oppose a law that makes it easier for companies to fire young workers.

In America, throngs have hit the streets to defend their access to a very different job market, one of the world's most freewheeling. As immigrants, legal or illegal, they simply want the opportunity to work - even though there's no guarantee of a steady paycheck.

The issue on both continents, say economists, is the flexibility of labor markets. It's not a slogan on marchers' signs. But the question of flexibility - whether it's measured in pink slips, green cards, or the minimum wage - distinguishes the American economy from many European ones.

"[In Europe] they want more job protection. No one in Los Angeles is asking for protection from being fired," says Diana Furchtgott-Roth, an economist at the conservative Hudson Institute in Washington. "That's why one has very high unemployment, Europe, and one has very low unemployment, the US."

The high-stakes choices each continent makes on labor policies will affect their societies for decades to come. Both have tough roads ahead in assimilating immigrants, supporting more elderly citizens, and competing with new powers in Asia But many economists say that America's more-nimble job market holds an advantage. And in European nations, rigid policies threaten progress.

"They could make the changes they need to make, and move forward, or they could get left behind," says Martin Baily, an economist at the Institute for International Economics in Washington. "The US is better off. We have a full-employment economy."

The implications go beyond financial well-being. The character of labor markets could shape not just living standards but also social cohesion and political or military clout.

The United States and Europe will almost certainly see their share of the world's economic output decline in the decades ahead, as countries such as China and Brazil see theirs rise. But the relative decline looks steeper for Europe.

Some forecasters, for example, expect European economies to grow by an average of just 2 percent a year through 2025, compared with 3 percent a year for the US and nearly 4 percent a year for the world as a whole.

In this scenario, used by the US Department of Energy in its annual outlook, Western Europe and the US each represented about 20 percent of the world's gross domestic product (GDP) in 2002. By 2025, America would retain an 18 percent share, while Western Europe's share would shrink much further - to 13 percent of world GDP.

Another projection, by researchers at the Organization for Economic Cooperation and Development, paints a grimmer picture. Assuming "unchanged policies, and with population aging," they warn that economic growth in the euro currency zone will slow to a pace of just 1.3 percent a year through 2020, and 1 percent after that.

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