Journal Article

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

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.

Keywords: Business cycles; Economic conditions; Labor market;

Bibliographic Information

Provider: Federal Reserve Bank of New York

Part of Series: Economic Policy Review

Publication Date: 2005

Issue: Aug

Pages: 3-18

Order Number: v.11 no.1