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A jobless recovery or jobless growth is an economic phenomenon in which a macroeconomy experiences growth while maintaining or decreasing its level of employment. The term was coined by the economist Nick Perna in the early 1990s. [1] [2]
Economists are still divided about the causes and cures of a jobless recovery: some argue that increased productivity through automation has allowed economic growth without reducing unemployment. [3] Other economists state that blaming automation is an example of the luddite fallacy [4] and that jobless recoveries stem from structural changes in the labor market, leading to unemployment as workers change jobs or industries. [5]
Some have argued that the recent lack of job creation in the United States is due to increased industrial consolidation and growth of monopoly or oligopoly power. [6] The argument is twofold: firstly, small businesses create most American jobs, and secondly, small businesses have more difficulty starting and growing in the face of entrenched existing businesses (compare infant industry argument, applied at the level of industries, rather than individual firms).
In addition to employment growth, population growth must also be considered concerning the perception of jobless recoveries. Immigrants and new entrants to the workforce will often accept lower wages, causing persistent unemployment among those who were previously employed. [7] [8]
Surprisingly, the U.S. Bureau of Labor Statistics (BLS) does not offer data-sets isolated to the working-age population (ages 16 to 65). [9] Including retirement age individuals in most BLS data-sets may tend to obfuscate the analysis of employment creation in relation to population growth. [10] Additionally, incorrect assumptions about the term, Labor force, might also occur when reading BLS publications, millions of employable persons are not included within the official definition. The Labor force, as defined by the BLS, [11] is a strict definition of those officially unemployed (U-3), [12] and those who are officially employed (1 hour or more). [13]
Once again, the baby-boom generation has become a generator of change, this time in its retirement. Moreover, the jobless recovery of the 2001 recession, coupled with the severe economic impact of the 2007–2009 recession, caused disruptions in the labor market. In the first 12 years of the 21st century, the growth of the population has slowed and labor force participation rates generally have declined. As a result, labor force growth also has slowed. The Bureau of Labor Statistics (BLS) projects that the next 10 years will bring about an aging labor force that is growing slowly, a declining overall labor force participation rate, and more diversity in the racial and ethnic composition of the labor force.
Bureau of Labor Statistics, Monthly Labor Review, December 2013. [10]
The following table and included chart depicts year-to-year employment growth in comparison to population growth for those persons under 65 years of age. As such, baby boomer retirements are removed from the data as a factor for consideration. The table includes the Bureau of Labor Statistics, Current Population Survey, for the Civilian noninstitutional population and corresponding Employment Levels, dating from 1948 and includes October 2013, the age groups are 16 years & over, and 65 years & over. [9] The working-age population is then determined by subtracting those age 65 and over from the Civilian noninstitutional population and Employment Levels respectively. Isolated into the traditional working-age subset, growth in both employment levels and population levels are totaled by decade, an employment percentage rate is also displayed for comparison by decade.
When examined, by decade, the first decade of the 2000s, the United States suffered a 5% jobless rate when compared to the added working age population.
| Civilian noninstitutional population | Working-age population | Employment levels | Working-age employment | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Year | Age: 16 years & over | Age: 65 yrs. & over | Age: 16 to 65 yrs. | Growth – decade | Age: 16 years & over | Age: 65 yrs. & over | Age: 16 to 65 | Growth – decade | Percent emp. |
| 1948 | 103,468,000 | 10,881,000 | 92,587,000 | 58,554,000 | 2,906,000 | 55,648,000 | |||
| 1949 | 104,524,000 | 11,191,000 | 93,333,000 | — | 57,712,000 | 2,926,000 | 54,786,000 | — | — |
| 1950 | 104,872,000 | 11,534,000 | 93,338,000 | 59,352,000 | 2,845,000 | 56,507,000 | |||
| 1951 | 104,810,000 | 11,918,000 | 92,892,000 | 60,252,000 | 2,858,000 | 57,394,000 | |||
| 1952 | 105,812,000 | 12,334,000 | 93,478,000 | 60,748,000 | 3,000,000 | 57,748,000 | |||
| 1953 | 107,623,000 | 13,257,000 | 94,366,000 | 59,796,000 | 2,882,000 | 56,914,000 | |||
| 1954 | 108,892,000 | 13,520,000 | 95,372,000 | 59,990,000 | 2,963,000 | 57,027,000 | |||
| 1955 | 110,296,000 | 13,925,000 | 96,371,000 | 63,268,000 | 3,213,000 | 60,055,000 | |||
| 1956 | 111,526,000 | 14,215,000 | 97,311,000 | 63,619,000 | 3,213,000 | 60,406,000 | |||
| 1957 | 113,013,000 | 14,516,000 | 98,497,000 | 63,598,000 | 3,089,000 | 60,509,000 | |||
| 1958 | 114,429,000 | 14,821,000 | 99,608,000 | 63,266,000 | 2,855,000 | 60,411,000 | |||
| 1959 | 116,040,000 | 15,148,000 | 100,892,000 | 7,559,000 | 64,927,000 | 3,024,000 | 61,903,000 | 7,117,000 | 94.15% |
| 1960 | 118,001,000 | 15,508,000 | 102,493,000 | 65,287,000 | 3,176,000 | 62,111,000 | |||
| 1961 | 119,214,000 | 15,861,000 | 103,353,000 | 65,531,000 | 2,885,000 | 62,646,000 | |||
| 1962 | 121,236,000 | 16,880,000 | 104,356,000 | 66,585,000 | 2,821,000 | 63,764,000 | |||
| 1963 | 123,360,000 | 17,014,000 | 106,346,000 | 67,791,000 | 2,765,000 | 65,026,000 | |||
| 1964 | 125,468,000 | 17,296,000 | 108,172,000 | 69,543,000 | 2,913,000 | 66,630,000 | |||
| 1965 | 127,294,000 | 17,580,000 | 109,714,000 | 71,819,000 | 2,926,000 | 68,893,000 | |||
| 1966 | 128,730,000 | 17,860,000 | 110,870,000 | 73,600,000 | 2,892,000 | 70,708,000 | |||
| 1967 | 130,936,000 | 18,194,000 | 112,742,000 | 75,337,000 | 3,030,000 | 72,307,000 | |||
| 1968 | 133,120,000 | 18,500,000 | 114,620,000 | 76,699,000 | 3,086,000 | 73,613,000 | |||
| 1969 | 135,489,000 | 18,825,000 | 116,664,000 | 15,772,000 | 78,789,000 | 3,069,000 | 75,720,000 | 13,817,000 | 87.60% |
| 1970 | 138,529,000 | 19,202,000 | 119,327,000 | 78,651,000 | 3,032,000 | 75,619,000 | |||
| 1971 | 141,666,000 | 19,605,000 | 122,061,000 | 80,527,000 | 3,005,000 | 77,522,000 | |||
| 1972 | 145,446,000 | 20,229,000 | 125,217,000 | 83,424,000 | 2,909,000 | 80,515,000 | |||
| 1973 | 148,479,000 | 20,536,000 | 127,943,000 | 86,390,000 | 2,787,000 | 83,603,000 | |||
| 1974 | 151,494,000 | 21,214,000 | 130,280,000 | 86,169,000 | 2,794,000 | 83,375,000 | |||
| 1975 | 154,589,000 | 21,803,000 | 132,786,000 | 86,689,000 | 2,680,000 | 84,009,000 | |||
| 1976 | 157,438,000 | 22,309,000 | 135,129,000 | 89,850,000 | 2,791,000 | 87,059,000 | |||
| 1977 | 160,377,000 | 22,874,000 | 137,503,000 | 94,183,000 | 2,903,000 | 91,280,000 | |||
| 1978 | 163,272,000 | 23,450,000 | 139,822,000 | 97,669,000 | 3,006,000 | 94,663,000 | |||
| 1979 | 166,300,000 | 24,067,000 | 142,233,000 | 25,569,000 | 100,013,000 | 3,002,000 | 97,011,000 | 21,291,000 | 83.27% |
| 1980 | 168,883,000 | 24,597,000 | 144,286,000 | 99,579,000 | 2,907,000 | 96,672,000 | |||
| 1981 | 171,166,000 | 25,109,000 | 146,057,000 | 99,562,000 | 2,928,000 | 96,634,000 | |||
| 1982 | 173,199,000 | 25,619,000 | 147,580,000 | 98,849,000 | 2,878,000 | 95,971,000 | |||
| 1983 | 175,121,000 | 26,160,000 | 148,961,000 | 102,803,000 | 2,878,000 | 99,925,000 | |||
| 1984 | 177,306,000 | 26,712,000 | 150,594,000 | 106,049,000 | 2,797,000 | 103,252,000 | |||
| 1985 | 179,112,000 | 27,266,000 | 151,846,000 | 108,063,000 | 2,841,000 | 105,222,000 | |||
| 1986 | 181,547,000 | 27,791,000 | 153,756,000 | 110,588,000 | 2,909,000 | 107,679,000 | |||
| 1987 | 183,620,000 | 28,362,000 | 155,258,000 | 113,679,000 | 3,126,000 | 110,553,000 | |||
| 1988 | 185,402,000 | 28,875,000 | 156,527,000 | 115,978,000 | 3,264,000 | 112,714,000 | |||
| 1989 | 187,165,000 | 29,462,000 | 157,703,000 | 15,470,000 | 117,698,000 | 3,352,000 | 114,346,000 | 17,335,000 | 112.06% |
| 1990 | 190,017,000 | 29,453,000 | 160,564,000 | 118,110,000 | 3,256,000 | 114,854,000 | |||
| 1991 | 191,798,000 | 29,893,000 | 161,905,000 | 117,395,000 | 3,193,000 | 114,202,000 | |||
| 1992 | 193,784,000 | 30,396,000 | 163,388,000 | 118,990,000 | 3,341,000 | 115,649,000 | |||
| 1993 | 195,794,000 | 30,784,000 | 165,010,000 | 121,578,000 | 3,394,000 | 118,184,000 | |||
| 1994 | 197,765,000 | 31,181,000 | 166,584,000 | 124,729,000 | 3,641,000 | 121,088,000 | |||
| 1995 | 199,508,000 | 31,629,000 | 167,879,000 | 125,136,000 | 3,676,000 | 121,460,000 | |||
| 1996 | 201,636,000 | 31,902,000 | 169,734,000 | 127,903,000 | 3,807,000 | 124,096,000 | |||
| 1997 | 204,098,000 | 32,071,000 | 172,027,000 | 130,785,000 | 3,933,000 | 126,852,000 | |||
| 1998 | 206,270,000 | 32,275,000 | 173,995,000 | 132,732,000 | 3,855,000 | 128,877,000 | |||
| 1999 | 208,832,000 | 32,538,000 | 176,294,000 | 18,591,000 | 134,696,000 | 3,984,000 | 130,712,000 | 16,366,000 | 88.03% |
| 2000 | 213,736,000 | 33,590,000 | 180,146,000 | 137,846,000 | 4,244,000 | 133,602,000 | |||
| 2001 | 216,315,000 | 33,823,000 | 182,492,000 | 136,269,000 | 4,300,000 | 131,969,000 | |||
| 2002 | 218,741,000 | 34,004,000 | 184,737,000 | 136,599,000 | 4,248,000 | 132,351,000 | |||
| 2003 | 222,509,000 | 34,432,000 | 188,077,000 | 138,556,000 | 4,711,000 | 133,845,000 | |||
| 2004 | 224,640,000 | 34,796,000 | 189,844,000 | 140,278,000 | 4,902,000 | 135,376,000 | |||
| 2005 | 227,425,000 | 35,208,000 | 192,217,000 | 142,918,000 | 5,263,000 | 137,655,000 | |||
| 2006 | 230,108,000 | 35,841,000 | 194,267,000 | 146,081,000 | 5,617,000 | 140,464,000 | |||
| 2007 | 233,156,000 | 36,603,000 | 196,553,000 | 146,334,000 | 5,787,000 | 140,547,000 | |||
| 2008 | 235,035,000 | 37,522,000 | 197,513,000 | 143,350,000 | 6,084,000 | 137,266,000 | |||
| 2009 | 236,924,000 | 38,362,000 | 198,562,000 | 22,268,000 | 137,953,000 | 6,193,000 | 131,760,000 | 1,048,000 | 4.71% |
| 2010 | 238,889,000 | 39,045,000 | 199,844,000 | 139,159,000 | 6,376,000 | 132,783,000 | |||
| 2011 | 240,584,000 | 40,364,000 | 200,220,000 | 140,681,000 | 6,893,000 | 133,788,000 | |||
| 2012 | 244,350,000 | 42,695,000 | 201,655,000 | 143,060,000 | 7,412,000 | 135,648,000 | |||
| 2013 | 246,745,000 | 44,155,000 | 202,590,000 | 144,423,000 | 7,748,000 | 136,675,000 | |||
| 2014 | 249,027,000 | 45,685,000 | 203,342,000 | 147,190,000 | 8,140,000 | 139,050,000 | |||
| 2015 | 251,936,000 | 47,269,000 | 204,667,000 | 149,703,000 | 8,552,000 | 141,151,000 | |||
| 2016 | 254,742,000 | 48,837,000 | 205,905,000 | 7,343,000 | 151,798,000 | 8,820,000 | 142,978,000 | 11,218,000 | 152.77% |
| Pre and Post 2000 Comparisons (working age) | |||||||||
| Pop. Growth | Employment Growth | ||||||||
| 1900s | 1950 to 1999 | 82,961,000 | 75,926,000 | 91.52% | |||||
| 2000s | 2000 to 2016 | 29,611,000 | 12,266,000 | 41.42% | |||||
| Bold denotes datum used to produce "Working-Age: Growth Decade" calculation Decade example = End of year 1949 to end of year 1959 Source: Bureau of Labor Statistics, Current Population Survey [9] | |||||||||
| Series Id: LNU00000000 Not Seasonally Adjusted Series title: (Unadj.) population Level Labor force status: Civilian noninstitutional population age: 16 years and over | |||||||||
| Series Id: LNU02000000 Not Seasonally Adjusted Series title: (Unadj.) employment Level Labor force status: Employed Age: 16 years and over | |||||||||
| Series Id:LNU00000097 Not Seasonally Adjusted Series title: (Unadj.) population Level - 65 yrs. & over Labor force status: Civilian noninstitutional population age: 65 years and over | |||||||||
| Series Id: LNU02000097 Not Seasonally Adjusted Series title: (Unadj.) employment Level - 65 yrs. & over Labor force status: Employed Age: 65 years and over | |||||||||
Pay Articles from December 1935 Part 7 - Site Map - The New York ...
Between March of 2000 and 2004, the number of unemployed adult natives increased by 2.3 million, while the number of employed adult immigrants increased by 2.3 million.
In this case firms pay immigrants less than their marginal productivity, increasing the firms' profits. Such cost-savings on immigrants act as an increase in productivity for firms.
Labor force (Current Population Survey) The labor force includes all persons classified as employed or unemployed in accordance with the definitions contained in this glossary.
Unemployment, according to the OECD, is people above a specified age not being in paid employment or self-employment but currently available for work during the reference period.
In economics, a discouraged worker is a person of legal employment age who is not actively seeking employment or who has not found employment after long-term unemployment, but who would prefer to be working. This is usually because an individual has given up looking, hence the term "discouraged".
The labor force is the actual number of people available for work and is the sum of the employed and the unemployed. The U.S. labor force reached a high of 164.6 million persons in February 2020, just at the start of the COVID-19 pandemic in the United States. Before the pandemic, the U.S. labor force had risen each year since 1960 with the exception of the period following the Great Recession, when it remained below 2008 levels from 2009 to 2011. In 2021, The Great Resignation resulted in record numbers in voluntary turn over for American workers.
The Current Population Survey (CPS) is a monthly survey of about 60,000 U.S. households conducted by the United States Census Bureau for the Bureau of Labor Statistics (BLS). The BLS uses the data to publish reports early each month called the Employment Situation. This report provides estimates of the unemployment rate and the numbers of employed and unemployed people in the United States based on the CPS. A readable Employment Situation Summary is provided monthly. Annual estimates include employment and unemployment in large metropolitan areas. Researchers can use some CPS microdata to investigate these or other topics.
In macroeconomics, the labor force is the sum of those either working or looking for work :
Reserve army of labour is a concept in Karl Marx's critique of political economy. It refers to the unemployed and underemployed in capitalist society. It is synonymous with "industrial reserve army" or "relative surplus population", except that the unemployed can be defined as those actually looking for work and that the relative surplus population also includes people unable to work. The use of the word "army" refers to the workers being conscripted and regimented in the workplace in a hierarchy under the command or authority of the owners of capital.
Graduate unemployment, or educated unemployment, is unemployment among people with an academic degree.
Growth Recession is a term in economics that refers to a situation where economic growth is slow, but not low enough to be a technical recession, yet unemployment still increases.
The Organisation for Economic Co-operation and Development defines the employment rate as the employment-to-population ratio. This is a statistical ratio that measures the proportion of a country's working age population that is employed. This includes people that have stopped looking for work. The International Labour Organization states that a person is considered employed if they have worked at least 1 hour in "gainful" employment in the most recent week.
In the United States, the civilian noninstitutional population refers to people 16 years of age and older residing in the 50 States and the District of Columbia who are not inmates of institutions, and who are not on active duty in the Armed Forces.
99ers is a colloquial term for unemployed people in the United States, mostly citizens, who have exhausted all of their unemployment benefits, including all unemployment extensions. As a result of the American Recovery and Reinvestment Act passed by Congress in February 2009, many unemployed people could receive up to 99 weeks of unemployment insurance benefits, hence the name "99ers". An estimated 7 million people are affected.
Unemployment in the United States discusses the causes and measures of U.S. unemployment and strategies for reducing it. Job creation and unemployment are affected by factors such as economic conditions, global competition, education, automation, and demographics. These factors can affect the number of workers, the duration of unemployment, and wage levels.
Job losses caused by the Great Recession refers to jobs that have been lost worldwide within people since the start of the Great Recession. In the US, job losses have been going on since December 2007, and it accelerated drastically starting in September 2008 following the bankruptcy of Lehman Brothers. By February 2010, the American economy was reported to be more shaky than the economy of Canada. Many service industries have reported dropping their prices in order to maximize profit margins. This is an era in which employment is becoming unstable, and in which being either underemployed or unemployed is a common part of life for many people.
Unemployment in the United Kingdom is measured by the Office for National Statistics.
The Labor policy in the Philippines is specified mainly by the country's Labor Code of the Philippines and through other labor laws. They cover 38 million Filipinos who belong to the labor force and to some extent, as well as overseas workers. They aim to address Filipino workers’ legal rights and their limitations with regard to the hiring process, working conditions, benefits, policymaking on labor within the company, activities, and relations with employees.
Youth unemployment is the situation of young people, usually including those aged 15–24 years, being unable to find work. It is often considered separately from unemployment among the general population, because the reasons for which young people cannot find work are often distinct, and unemployment affects them differently. Unemployment rates for young people are higher than those of adults almost everywhere, but differ greatly between countries and regions.
Statistics on unemployment in India had traditionally been collected, compiled and disseminated once every ten years by the Ministry of Labour and Employment (MLE), primarily from sample studies conducted by the National Sample Survey Office. Other than these 5-year sample studies, India has – except since 2017 – never routinely collected monthly, quarterly or yearly nationwide employment and unemployment statistics. In 2016, the Centre for Monitoring Indian Economy, a non-governmental entity based in Mumbai, started sampling and publishing monthly unemployment in India statistics.
Job creation and unemployment are affected by factors such as aggregate demand, global competition, education, automation, and demographics. These factors can affect the number of workers, the duration of unemployment, and wage rates.
The unemployment rate in the Republic of Korea as of December 2021 is 3.7 percent. Since its rapid globalization and democratization, the unemployment rate has been comparatively low compared to most OECD countries. This remains the case as of 2021. Being Asia’s fourth-largest economy, the country's booming exports have helped to maintain the unemployment rate very low by the standards of developed countries. There are several measurement differences between the standard of measurement set by the International Labour Organisation and the official measurement of unemployment in the Republic of Korea, set by Statistics Korea, that contribute to an inflated unemployment rate when compared to other countries that abide more strictly by the standard set by the International Labour Organisation.
