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Federal Reserve Bank of New York
Current Issues in Economics and Finance
Has structural change contributed to a jobless recovery?
Erica L. Groshen
Simon M. Potter
Abstract

The current recovery has seen steady growth in output but no corresponding rise in employment. A look at layoff trends and industry job gains and losses in 2001-03 suggests that structural change - the permanent relocation of workers from some industries to others - may help explain the stalled growth in jobs.


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Erica L. Groshen & Simon M. Potter, "Has structural change contributed to a jobless recovery?" , Federal Reserve Bank of New York, Current Issues in Economics and Finance, volume 9, issue Aug, 2003.
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Keywords: Business cycles ; Employment (Economic theory) ; Labor mobility ; Unemployment ; Industries ; Recessions
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