Definition of Jobless Recovery
What is a "jobless recovery"? What is the definition of the term "jobless recovery"?
A "jobless recovery" occurs when economic growth takes place in a country, but employment levels either drop or remain stable.
At the time that this definition was written (November 2010), the United States was experiencing a "jobless recovery", as economic growth was technically taking place, but the national unemployment rate was basically stuck in neutral.
It is generally expected that a growing economy will result in the creation of new jobs, but this isn't always the case.
Increased automation, for instance, can result in GDP growth accompanied with stable or dropping employment.
"Jobless recoveries" have been perplexing economists for decades. The big question - how do you spur employment growth in a country when the economy is already growing?
Davemanuel.com Articles That Mention Jobless Recovery:
Head of FHA: Expect a Further 10% Decline in Real Estate Values