Reprise américaine: quel contenu en emplois ?
Vincent Grossmann-Wirth () and
Economie & Prévision, 2010, vol. n° 195-196, issue 4, 165-171
Our study does not challenge the mainly cyclical nature of the net job losses observed in the U.S. in the 2007-2009 crisis. However, we show that the U.S. labor market?s responsiveness to post-crisis GDP changes is relatively similar to the pattern observed in the ?jobless recoveries? after the 1990 and 2001 recessions. This econometric result is supported by the available data on flows into and out of unemployment, on part-time work, and on the number of hours worked. A breakdown by economic sector shows that the phenomenon is partly due to the decline in the share of manufacturing jobs in total employment. This leaves the service sector, which is less cyclical, as the main source of job creation during recoveries.
Keywords: labor market; unemployment; recession; econometric model; US economy (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:cai:ecoldc:ecop_195_0165
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