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The Slow Recovery of the Labor Market

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  • Congressional Budget Office

Abstract

Since the recession ended in June 2009, employment has risen sluggishly and the unemployment rate has fallen only partway back to its prerecession level. That slow recovery of the labor market largely reflects the slow growth in the demand for goods and services. Moreover, a significant part of the improvement in the unemployment rate is attributable to a decline in labor force participation—the result of an unusually large number of people having stopped looking for work.

Suggested Citation

  • Congressional Budget Office, 2014. "The Slow Recovery of the Labor Market," Reports 45011, Congressional Budget Office.
  • Handle: RePEc:cbo:report:450110
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    File URL: https://www.cbo.gov/sites/default/files/113th-congress-2013-2014/reports/45011-LaborMarketReview.pdf
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    Cited by:

    1. Diamond, Peter A. & Şahin, Ayşegül, 2015. "Shifts in the Beveridge curve," Research in Economics, Elsevier, vol. 69(1), pages 18-25.
    2. repec:bin:bpeajo:v:48:y:2017:i:2017-01:p:1-81 is not listed on IDEAS
    3. Chinn, Menzie & Ferrara, Laurent & Mignon, Valérie, 2014. "Explaining US employment growth after the great recession: The role of output–employment non-linearities," Journal of Macroeconomics, Elsevier, vol. 42(C), pages 118-129.
    4. John G. Fernald & Robert E. Hall & James H. Stock & Mark W. Watson, 2017. "The Disappointing Recovery of Output after 2009," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 48(1 (Spring), pages 1-81.
    5. Rudebusch, Glenn D. & Williams, John C., 2016. "A wedge in the dual mandate: Monetary policy and long-term unemployment," Journal of Macroeconomics, Elsevier, vol. 47(PA), pages 5-18.

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