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Economic Perspectives, Vol. 28, 2nd, No. 2, May 2004
Assessing the jobless recovery
By all measures, employment growth since the recession that ended in November 2001 has been surprisingly weak. But exactly how weak and why have been the subjects of much discussion. In this article, we review the evidence on recent employment trends, provide some new evidence on the role of self-employment, and offer some thoughts on the strengths and weaknesses of several proposed explanations of the causes of what many have called a jobless recovery.
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