The Trend is the Cycle: Job Polarization and Jobless Recoveries
AbstractJob polarization refers to the recent disappearance of employment in occupations in the middle of the skill distribution. Jobless recoveries refers to the slow rebound in aggregate employment following recent recessions, despite recoveries in aggregate output. We show how these two phenomena are related. First, job polarization is not a gradual process; essentially all of the job loss in middle-skill occupations occurs in economic downturns. Second, jobless recoveries in the aggregate are accounted for by jobless recoveries in the middle-skill occupations that are disappearing.
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Date of creation: Aug 2012
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Find related papers by JEL classification:
- E0 - Macroeconomics and Monetary Economics - - General
- J0 - Labor and Demographic Economics - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-09-03 (All new papers)
- NEP-BEC-2012-09-03 (Business Economics)
- NEP-LAB-2012-09-03 (Labour Economics)
- NEP-MAC-2012-09-03 (Macroeconomics)
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