The Job Machine Hasn't Bounced Back With This Recovery

If the current economic recovery had kept pace with previous expansions, 7 million more jobs would have been created by now. But three years into the recovery, employment has grown by just 5.4 million, mr 4.8%, compared with an average gain of 11.2% by this stage in previous upturns. Among the commonly accepted explanations for the slow job growth: continued layoffs triggered by corporate restructuring, defense cutbacks, and disappointing exports.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.