Repères 24/10/09 - Le risque croissant d'une reprise économique sans recréation d'emplois
The growing case for a jobless recovery
The Atlanta Fed's macroblog October 21, 2009"The Wall Street Journal repeats the unhappy news:
"Companies across the economy are holding off on hiring even as the profit outlook improves, amid economic uncertainty and their own success at raising productivity in rough waters.
"Hiring always lags behind in economic recoveries, but the outlook this time is worse, many economists say. Most forecasters now expect a prolonged period of high unemployment, even though the government is expected to report next week that the economy grew in the third quarter, after four quarters of contraction."
I'd like to be able to contradict what most forecasters expect, but we at the Atlanta Fed have been building the case for a similar outcome on macroblog. Here are few salient points from previous posts...
