Re: The deepening recession in the U.S.

[Nicholas Siemensma <nsiemensma@xxxxxxxxxxxx>]

Current Issues in Economics and Finance (August 2003)
from the Federal Reserve Bank of New York has a study
by Erica L. Groshen and Simon Potter, "Has Structural
Change Contributed to a Jobless Recovery?"

"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."

http://www.newyorkfed.org/rmaghome/curr_iss/html/civ9n8/civ9n8.html

Nick

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