Feature

Get used to jobless recoveries

We may be experiencing a depressing “new American normal” on job creation.

Jim Tankersley
WashingtonPost.com

We may be experiencing a depressing “new American normal” on job creation, said Jim Tankersley. The country is now “stuck in its third consecutive ‘jobless recovery,’ stretching back to the rebound from the 1990 recession.” And economists say we should expect future economic upswings in which workers “flail for years in a weak job market”-—even though they still aren’t sure why jobless upswings occur. One new study found that social trust has weakened, leaving job hunters more isolated and making it harder for them to find jobs. People are also “more likely to say it’s all right to claim government benefits, even if they don’t qualify for them,” which makes them less motivated to search for jobs. On the other hand, America’s aging workers tend “to drop out of the labor force if they lose their jobs by retiring early, and thus aren’t counted as unemployed for very long.” While they haven’t yet solved the “slow-recovery riddle,” researchers predict more jobless upswings ahead, and say that lawmakers should be prepared. Instead of trying to counteract downturns with “timely and temporary” fiscal stimulus packages and short-lived tax breaks, they should plan to address long declines with “more long-running investment projects.”

Recommended

Russia claims to have captured Mariupol
Russian soldier in Mariupol.
big if true

Russia claims to have captured Mariupol

Group of 7 pledges almost $20B in aid for Ukraine
G7 officials discuss Ukraine aid package.
cash infusion

Group of 7 pledges almost $20B in aid for Ukraine

Biden's trip to Asia, explained
President Biden.
Briefing

Biden's trip to Asia, explained

Monkeypox comes to America
A monkeypox warning.
Briefing

Monkeypox comes to America

Most Popular

College student who delivered baby before graduation surprised at hospital
Jada Sayles receives her diploma.
major milestones

College student who delivered baby before graduation surprised at hospital

Elon Musk reportedly offered to trade a horse for an erotic massage
Elon Musk
A horse?

Elon Musk reportedly offered to trade a horse for an erotic massage

Archbishop denies Pelosi communion over abortion rights
Nancy Pelosi.
church and state

Archbishop denies Pelosi communion over abortion rights