Job Flows and the Recent Business Cycle: Not All "Recoveries" Are Created Equal
The last two economic downturns are notable for their slow labor market recoveries. Yet, the behavior of their underlying gross job flows is quite different. The 1990-92 period had a relatively slow decline in job destruction, while the 2001-03 period had a large, persistent decline in job creation that occurs across most industries. The dynamics of the latter period run counter to the conventional wisdom that large movements in job destruction drive business cycles. Evidence spanning the entire postwar period suggests that job creation is at a historic low, and that its recent patterns are part of decades-long decline in the magnitude and volatility of job reallocation.
|Date of creation:||Feb 2006|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: (202) 606-5900
Fax: (202) 606-7890
Web page: http://www.bls.govEmail:
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Timothy Dunne & John Haltiwanger & John Baldwin, 1994.
"A Comparison of Job Creation and Job Destruction in Canada and the United States,"
94-2, Center for Economic Studies, U.S. Census Bureau.
- John Baldwin & Timothy Dunne & John Haltiwanger, 1998. "A Comparison Of Job Creation And Job Destruction In Canada And The United States," The Review of Economics and Statistics, MIT Press, vol. 80(3), pages 347-356, August.
- John Baldwin & Timothy Dunne & John Haltiwanger, 1994. "A Comparison of Job Creation and Job Destruction in Canada and the United States," NBER Working Papers 4726, National Bureau of Economic Research, Inc.
- Steven J. Davis & John Haltiwanger, 1990. "Gross Job Creation and Destruction: Microeconomic Evidence and Macroeconomic Implications," NBER Chapters, in: NBER Macroeconomics Annual 1990, Volume 5, pages 123-186 National Bureau of Economic Research, Inc.
- Bruce Fallick & Charles A. Fleischman, 2004. "Employer-to-employer flows in the U.S. labor market: the complete picture of gross worker flows," Finance and Economics Discussion Series 2004-34, Board of Governors of the Federal Reserve System (U.S.).
- Steven J. Davis & John C. Haltiwanger & Scott Schuh, 1998. "Job Creation and Destruction," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262540932, June.
- Randall W. Eberts & Edward Montgomery, 1995. "Cyclical versus Secular Movements in Employment Creation and Destruction," NBER Working Papers 5162, National Bureau of Economic Research, Inc.
- Robert Shimer, 2007.
"Reassessing the Ins and Outs of Unemployment,"
NBER Working Papers
13421, National Bureau of Economic Research, Inc.
- Olivier Blanchard & John Simon, 2001. "The Long and Large Decline in U.S. Output Volatility," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 32(1), pages 135-174.
- Diego Comin & Thomas Philippon, 2005.
"The Rise in Firm-Level Volatility: Causes and Consequences,"
NBER Working Papers
11388, National Bureau of Economic Research, Inc.
- Diego A. Comin & Thomas Philippon, 2006. "The Rise in Firm-Level Volatility: Causes and Consequences," NBER Chapters, in: NBER Macroeconomics Annual 2005, Volume 20, pages 167-228 National Bureau of Economic Research, Inc.
- Christopher L. Foote, 1998.
"Trend Employment Growth and the Bunching of Job Creation and Destruction,"
Harvard Institute of Economic Research Working Papers
1818, Harvard - Institute of Economic Research.
- Christopher L. Foote, 1998. "Trend Employment Growth And The Bunching Of Job Creation And Destruction," The Quarterly Journal of Economics, MIT Press, vol. 113(3), pages 809-834, August.
- Erica L. Groshen & Simon Potter, 2003. "Has structural change contributed to a jobless recovery?," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 9(Aug).
- Daniel Aaronson & Ellen Rissman & Daniel G. Sullivan, 2004. "Can sectoral reallocation explain the jobless recovery?," Economic Perspectives, Federal Reserve Bank of Chicago, issue Q II, pages 36-39.
When requesting a correction, please mention this item's handle: RePEc:bls:wpaper:ec060030. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Gregory Kurtzon)
If references are entirely missing, you can add them using this form.