Maybe not a jobless recovery?

November 13, 2009

Some interesting analyst from the St. Louis Fed:

What was unique about the jobless recoveries, say DiCecio and Gascon, is that the preceding recessions were structural ones. 75% of jobs lost in the 1990-91 recession and 50% of the losses in the ’01 recession were suffered by the manufacturing sector. That number is down to 25% during this recession. The assumption here is that it’s easier for service workers to find jobs in the growing service economy than for former manufacturing workers to make the shift into the service sector. And that makes sense to me.

One comment

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Kind of sounds like grasping at straws to me. Or putting lipstick on a pig.

Posted by Bill, Fairfax, VA | Report as abusive