Journal Article

The case of the reluctant recovery

Abstract: Anecdotal evidence has it that the 1990-91 downturn was a predominantly white-collar, or middle management, recession. The data, however, show that the recession affected virtually all occupational groups. Moreover, by standards of past recessions, the 1990-91 downturn was relatively mild. It is the failure of employment to recover that is unusual. Evidence presented here indicates that the economys behavior results from a blend of cyclical and structural factors, with the structural factors delaying the recovery.

Keywords: Recessions;

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Bibliographic Information

Provider: Federal Reserve Bank of Richmond

Part of Series: Economic Review

Publication Date: 1992

Volume: 78

Issue: Jul

Pages: 3-13