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Topic: Jobless recovery

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	Jobless recovery - Wikipedia, the free encyclopedia
		A jobless recovery or jobless growth is a phrase used by economists to describe the recovery from a recession which does not produce strong growth in employment.
		Economists are still divided about the causes and cures of a jobless recovery: some argue that increased productivity through automation and robotics has allowed economic growth without reducing unemployment.
		Other economists (such as [1]) suggest that jobless recoveries stem from structural change in the labor market, leading to unemployment as workers change jobs or industries.
	en.wikipedia.org /wiki/Jobless_recovery (271 words)

	EH.Net Encyclopedia: Economic Recovery in the Great Depression
		Research into the forces of recovery generally concludes that the growth of the money supply (M) was the principal cause of the rise in output (y) after March 1933, the trough of the Great Contraction.
		That the recovery was due principally to the growth of the stock of money appears to be a robust conclusion of postwar research into causes of the 1930s recovery.
		To acknowledge that productivity increases were crucial to the economic recovery is not however the end of the story because we are still left trying to understand the mechanisms underlying their sharp increases.
	www.eh.net /encyclopedia/article/Steindl.GD.Recovery (2895 words)

	House Budget Committee - Democrats
		The economic recovery from the recession that began last year is thus far quite weak by historical standards.
		The current economic situation bears troubling similarities to the "jobless recovery" of 1991-92 that plagued the Administration of the current President's father.
		In the previous "jobless recovery" of 1991-92, the economy failed to recover for more than a year because it was held back by economic "headwinds" (to use Fed Chairman Alan Greenspan's terminology of the time).
	www.house.gov /budget_democrats/analyses/projections/jobless_recovery.htm (1209 words)

	South-Western: Jobless recovery
		This suggests that one of the reasons for the "jobless recovery" is a reduction in job seeking by those who left the labor force in response to perceptions of limited job opportunities.
		He notes that the recovery from 2001 to 2003 was characterized by rising poverty, a decline in median household income, and a decline in dual-income households, Herbert suggests that this situation is exacerbated by very high levels of consumer debt.
		The National Employment Law Project analyzes the distribution and duration of unemployment that has occurred during the recession of 2001 and the subsequent "jobless recovery." It is noted that the duration of unemployment has been increasing and a growing number of workers are reaching the end of their unemployment benefits.
	www.swlearning.com /economics/policy_debates/jobless_recovery.html (3252 words)

	FRB:Speech, Bernanke--Remarks on the jobless recovery-- November 6, 2003
		This observation brings me to my fifth and final possible explanation of the jobless recovery, which is the remarkable increase in labor productivity we have seen in recent years, not only in manufacturing but in the economy as a whole.
		A possible concern is that, if (as some have argued) the jobless recovery is in part the result of an unusually high pace of structural change, then the degree of longer-term mismatch between workers' skills and the available jobs may have increased.
		Because the post-trough recovery in the labor market has been so much slower this time around, the experience of the earlier episode suggests that the current risk of increased inflation is, for the time being at least, quite small.
	www.federalreserve.gov /boarddocs/speeches/2003/200311062/default.htm (5221 words)

	Has Structural Change Contributed to a Jobless Recovery? - Federal Reserve Bank of New York
		The sluggishness of payroll growth during the 1991-92 and current recoveries stands in sharp contrast to the vigorous rebound in employment during earlier recoveries (Chart 1).
		Although the current jobless recovery appears even weaker than the last one, two important indicators suggest that it may be less severe for workers: The unemployment rate remains relatively low, and real wage growth remains high.
		Increases in GDP coincided with declines in employment during recoveries in 1951:3 (almost two years after the trough in 1949:4), 1954:3 (one quarter after the trough), 1975:2 (again, one quarter after the trough), 1991:2, 1991:4, and 1992:1 (one, three, and four quarters after the trough, respectively).
	www.ny.frb.org /research/current_issues/ci9-8/ci9-8.html (4614 words)

	USATODAY.com - Recovery looks more and more like a jobless one (Site not responding. Last check: 2007-10-31)
		WASHINGTON — A growing number of analysts are declaring that the USA is in a "jobless recovery," an unwelcome trend that contributed to a slow-growth recovery last decade.
		The term "jobless recovery" was coined after the 1990-1991 recession.
		Even though it's unclear when that will happen, this jobless recovery likely won't be as deep as it was in the 1990s, analysts say.
	www.usatoday.com /money/economy/2002-07-17-jobless-recovery.htm (554 words)

	Bank Lending to Businesses in a Jobless Recovery (2003-21, 07/18/2003) (Site not responding. Last check: 2007-10-31)
		The jobless recoveries from the 1990–1991 and 2001 recessions
		Those recoveries share some key features: one is weakness in labor markets—both are so-called jobless recoveries; another is the cautious pace of business investment in equipment and software.
		An economic recovery can be defined as the period of time from the official trough of the business cycle up to the date at which real GDP per capita returns to its prior peak.
	www.frbsf.org /publications/economics/letter/2003/el2003-21.html (1581 words)

	washingtonpost.com: The Jobless Recovery
		The reason for such recoveries, as a study by the New York Fed argues, is that the structure of the economy is changing faster than previously.
		Moreover, a jobless recovery means, by definition, that each worker is producing more.
		Just look at the past decade: The jobless recovery of 1991-92 ushered in the longest economic expansion of the postwar period, which drove unemployment down to previously unheard-of levels, and fueled improvements in poverty, crime and other social indicators.
	www.washingtonpost.com /ac2/wp-dyn/A50822-2004Jan26?language=printer (576 words)

	VDARE.com: 06/09/03 - Jobless Recovery Means Lurch To Left
		Pundits call it “the jobless recovery.” The economy is growing, but jobs are not.
		I think that the jobless recovery is an illusion and that the U.S. economy is creating jobs - but not for Americans.
		Meanwhile, a rising stock market is consistent with “jobless recovery” as the lower labor costs of foreign employees drive profits.
	www.vdare.com /roberts/jobless.htm (924 words)

	The jobless recovery
		The decline in private sector jobs at this point in the recovery is greater than in any of the past three recessions/recoveries.
		Thus, as shown in the figure, employment losses in the most recent recession and subsequent jobless recovery have been greater than in any of the other three recessions and recoveries.
		Both series show that the problem of long-term joblessness worsened in 2002, as the jobless recovery took hold.
	www.epinet.org /Issuebriefs/ib186.html (1977 words)

	Bush's Jobless Economic Recovery: Workers Pay Price for Productivity: Jeffrey Frankel
		As in the recovery from the 1990-91 recession, firms have waited to hire until they are sure that the expansion is well-established, as it now is. The second response is to argue that the divergent paths of output and employment represent an economically beneficial acceleration of long-run productivity growth.
		The "joblessness" of the recovery to date is genuine.
		The other line of defense is that the jobless expansion represents an acceleration of long-run productivity growth, which is good for the national economy in the aggregate, even if it is hard on those who are laid off.
	www.ksg.harvard.edu /news/opeds/2003/frankel_economy_forward_122203.htm (1284 words)

	fling93 loves fishies: The Jobless Recovery
		Democrats who have been whining about the recession have had to change their tune to be whining about the “jobless recovery” and may soon have to change their tune again to whining about inflation fears or high interest rates.
		As for the “jobless recovery” (a term that will probably bite Democrats in the ass), the cause should be pretty easy to understand.
		I was just sticking to the jobless recovery for this post, and while he could have done a lot more to stimulate long-term growth, I don’t believe it would have affected employment significantly, since the underlying cause of the employment lag is high productivity, not lack of growth.
	fling93.com /blog/archives/economics/2004/the_jobless_recovery.html (1486 words)

	AppleOne - Jobless Recovery
		Now, as we see the signs of a third jobless recovery, there has never been a better time to take advantage of this favored staffing strategy.
		Now that we are in the middle of a jobless recovery and the candidate pool is the most educated and skilled in U.S. history, Temp-to-Hire candidates are not only readily available, they also have a greater potential for becoming valuable company assets.
		"Jobless recovery has marked the early stages of economic expansion twice before, and the present is no different," says Goldman.
	www.appleone.com /StaffingSuccess/0803/recovery.asp (492 words)

	eRiposte Economy - Economic Indicators: Bush Jobless Recovery
		The chair of the CEA, Greg Mankiw, referred to this projection as being "about average for a recovery." This benchmark, used monthly by JobWatch.org, is the number of jobs (306,000 per month) that the Bush Administration projected would be created from June 2003 to December 2004 if its proposed tax cuts were legislated in 2003.
		This decline is due to a combination of: (a) the lingering effects of the jobless recovery and the considerable existing labor slack that has lowered workers' bargaining power; (b) rising inflation that lowers workers' purchasing power; and (c) the fact that faster-growing industries pay less, on average, than shrinking or slower-growing industries.
		Yet the current recovery is among the weakest in history, as illustrated in the previous post.
	www.eriposte.com /economy/indicators/bushjobloss.htm (11819 words)

	Weekend Pundit: Is It Really A 'Jobless Recovery'?
		Bernadette Malone adds her voice to that of Glenn Reynolds when it comes to how the newly self-employed tend to shift their political outlooks to a more conservative one when they see the effects of taxes and government regulations up close.
		When critics of President Bush aren't arguing that Saddam Hussein was as harmless as a kitten, they are blaming Bush's tax policies for the “jobless recovery” from the recession that began in March 2001 and officially ended in November 2001.
		One has to be careful when talking about a jobless recovery when the number of jobs actually lost and not replaced haven't really been counted.
	weekendpundit.blogmosis.com /lastweekend/016870.html (710 words)

	Is the U.S. in for another jobless recovery? - Jun. 6, 2002
		The government reported that unemployment declined to 5.8 percent in May from 6 percent in April, defying forecasts of a rise to 6.1 percent by Briefing.com.
		During the 1990-92 recession and recovery, 22 straight months passed without the economy adding anywhere close to 125,000 jobs -- nearly half of President George Bush's administration, one that ended in large part because Bill Clinton hammered on the economy during his successful campaign.
		While few economists are declaring that this recovery will be as grim for the labor market, many of them aren't yet ruling that possibility out, especially with the future of business spending -- cited by Fed Chairman Alan Greenspan as key to the strength of the recovery and new hiring -- in doubt.
	money.cnn.com /2002/06/06/news/economy/jobs_walkup/index.htm (1424 words)

	Offshoring, Import Competition, and the Jobless Recovery (Site not responding. Last check: 2007-10-31)
		A widespread perception has arisen that a major culprit behind the dearth of jobs was the growing practice of U.S. firms to relocate part of their domestic operations to lower-wage countries abroad.
		The evidence about the dominating role of the recent productivity acceleration in explaining the jobless recovery does not address the size of employment effects on the increases in offshoring and import competition.
		But even a large increase in the estimate of the relevant service imports and their employment effects would still be quite small relative to the overall economy, the annual turnover in the American labor market, and the magnitude of the shortfall in job growth that has to be explained.
	www.brook.edu /comm/policybriefs/pb136.htm (2912 words)

	Democratic Party (United States) - Wikipedia, the free encyclopedia
		These focused on Relief, Recovery, and Reform; that is, relief of unemployment and rural distress, recovery of the economy back to normal, and long-term structural reforms to prevent any repetition.
		By 2004, the failure of George W. Bush's administration to find weapons of mass destruction in Iraq, mounting combat casualties and fatalities in that country, and the lack of any end point for the War on Terror were frequently debated issues in the election.
		That year, Democrats generally campaigned on surmounting the jobless recovery, solving the Iraq crisis, and fighting terrorism more efficiently.
	en.wikipedia.org /wiki/Democratic_Party_(United_States) (8698 words)

	Another Jobless Recovery? (Site not responding. Last check: 2007-10-31)
		The expansion of the 1990s began with such unexpectedly slow employment growth that commentators called it the "jobless recovery." As the economy now begins to expand after the most recent recession, the question is whether employment will follow the typical path of most postwar recoveries, or repeat the pattern of the 1990s.
		But recoveries are not all the same, and economic policies need to adapt to the situation at hand rather than follow a predetermined path.
		Both recoveries are also distinguished by the unusual role that labor force participation plays in the employment picture.
	www.clevelandfed.org /Research/Com2003/0301pr.htm (202 words)

	Dem Bloggers :: It's Still a Jobless/Wageless Recovery (Site not responding. Last check: 2007-10-31)
		Both of these numbers are analogous to an inflation measure; when they are higher than the percentage increase in wages it indicates that wages in fact decreased for the quarter.
		As the Federal Reserve noted in its recent survey of person finances for 2001-2004, average and median income are weak for this recovery, especially compared to the preceding 8 years.
		According to the Federal Reserve’s Flow of Funds report, they are the only economic sector to increase their savings rate for the last 5 years.
	www.dembloggers.com /story/2006/4/30/6561/77245 (512 words)

	Jobless recovery: the sequel - Oct. 3, 2002
		Jobless recovery: the sequel - Oct. 3, 2002
		In what would seem to be a rare positive development for the labor market, job-cut announcements dropped 41 percent in September to their lowest level in 22 months, according to outplacement firm Challenger Gray & Christmas, which keeps track of corporate layoffs.
		"All this is reminiscent of the 'jobless recovery' from the early 1990-91 recession," Broaddus said.
	money.cnn.com /2002/10/03/news/economy/jobs_walkup (1202 words)

	Northwest Progressive Institute: A jobless recovery is not a recovery III (Site not responding. Last check: 2007-10-31)
		Northwest Progressive Institute: A jobless recovery is not a recovery III
		A jobless recovery is not a recovery III
		A jobless recovery is not a recovery II
	www.nwprogressive.org /weblog/2006/01/jobless-recovery-is-not-recovery-iii_22.html (873 words)

	Myth of a Jobless Recovery (Site not responding. Last check: 2007-10-31)
		Job Losses and Trade Job losses are always painful, and the recent recession and sluggish recovery have meant real hardship for many Americans.
		The disparity of 3 million jobs (in employment growth) between the household and payroll surveys since the recovery began is unprecedented.
		The more intriguing possibility is that there are structural problems within the payroll survey that have only just now surfaced in the wake of the odd recovery of the "new" economy.
	www.rppi.org /joblessrecover.shtml (1775 words)

	A jobless recovery can't go on for long - Jubak's Journal - MSN Money
		Any recovery will be months, perhaps quarters old, before it results in a sizable wave of hiring.
		And as the economic recovery continues, companies will hire when they are confident the recovery is for real and sustainable.
		The possibility of a jobless recovery and its effects on the demand side of the economy fits into what I’d call the secular bear market theory held by prominent market strategists such as Ned Davis of Ned Davis Research and Richard Bernstein of Merrill Lynch.
	moneycentral.msn.com /content/P58078.asp (1877 words)

	A Most Irregular Recovery
		So, even as they take a bigger share of the profits, corporations and the richest of the rich are pulling less of their weight.
		The rich get all the recovery, and you get to support their habit for rare french wine and vacation homes.
		People, a jobless recovery is like a cheeseless pizza, where a tasteless top soaks the people at the bottom for all they're worth.
	www.irregulartimes.com /joblessrecovery.html (756 words)

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