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

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Listed:
  • Richard B. Freeman
  • William M. Rodgers

Abstract

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.

Suggested Citation

  • Richard B. Freeman & William M. Rodgers, 2005. "The weak jobs recovery: whatever happened to "the great American jobs machine"?," Economic Policy Review, Federal Reserve Bank of New York, issue Aug, pages 3-18.
  • Handle: RePEc:fip:fednep:y:2005:i:aug:p:3-18:n:v.11no.1
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    References listed on IDEAS

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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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    Citations

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    Cited by:

    1. Yilmaz Akyuz, 2006. "From Liberalization To Investment and Jobs: Lost in Translation," Working Papers 2006/3, Turkish Economic Association.
    2. Yilmaz Akyuz, 2008. "Managing Financial Instability in Emerging Markets: A Keynesian Perspective," Working Papers 2008/4, Turkish Economic Association.
    3. Akyüz, Yilmaz., 2006. "From liberalization to investment and jobs : lost in translation," ILO Working Papers 993913203402676, International Labour Organization.
    4. Willi Semmler & Jeff Madrick & Tarron Khemraj, 2006. "Okun's Law and Jobless Growth," SCEPA policy note series. SCEPA's main areas of research are macroeconomic policy, inequality and poverty, and globalization. 2006-03, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.
    5. David Brady & Regina Baker & Ryan Finnigan, 2013. "When Unionization Disappears: State-Level Unionization and Working Poverty in the U.S," LIS Working papers 590, LIS Cross-National Data Center in Luxembourg.
    6. Mdu Biyase & Lumengo Bonga-Bonga, 2007. "South Africa’s Growth Paradox," DEGIT Conference Papers c012_043, DEGIT, Dynamics, Economic Growth, and International Trade.

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