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The weak jobs recovery: whatever happened to "the great American jobs machine"?

Listed author(s):
  • Richard B. Freeman
  • William M. Rodgers

Authors Freeman and Rodgers find that the current recovery, which started in 2001, has been the worst in recent history in terms of job creation. They determine that the slow employment growth of the recovery is not attributable to the poor performance of a particular sector, nor is it concentrated in certain geographic areas. ; The authors conclude that the weak jobs recovery represents a major shift in the link between the labor market and the economy over the business cycle. They also find that the slow job growth has disproportionate effects on groups especially sensitive to business cycle swings, such as African-Americans, new labor-market entrants, out-of-school youth and less educated workers.

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Article provided by Federal Reserve Bank of New York in its journal Economic Policy Review.

Volume (Year): (2005)
Issue (Month): Aug ()
Pages: 3-18

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Handle: RePEc:fip:fednep:y:2005:i:aug:p:3-18:n:v.11no.1
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  1. Richard B. Freeman, 2000. "The US Economic Model at Y2K: Lodestar for Advanced Capitalism?," NBER Working Papers 7757, National Bureau of Economic Research, Inc.
  2. Jaeger, David A., 2003. "Estimating the returns to education using the newest current population survey education questions," Economics Letters, Elsevier, vol. 78(3), pages 385-394, March.
  3. Roger W. Ferguson, 2005. "Recessions and recoveries associated with asset-price movements: what do we know? : a speech at the Stanford Institute for Economic Policy Research, Stanford, California, January 12, 2005, and the Rea," Speech 69, Board of Governors of the Federal Reserve System (U.S.).
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