Lastly Stiglitz worries that increased investment in capital intensive technology will contribute to a jobless recovery.
In this way, the Fed may still be contributing to a jobless recovery, when we finally do recover.
Neither offered a solution to the jobless recovery, our national debt, our taxes and the looming fiscal cliff.
Labour productivity has soared, but the result could be a poisonous combination of deep recession followed by jobless recovery.
This in the midst of never-ending night, in the middle of a jobless recovery that seems to have no end.
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The risk is that hiring will be so slow that long-term unemployment becomes permanent, and the jobless recovery becomes sclerosis.
The Journal cites a recent McKinsey study of 2, 000 companies that predicts the jobless recovery will last another five years.
Republicans also generally cry foul when Congress tries to raise taxes on job creators, especially during a jobless recovery and potential double-dip recession.
With increased automation and many jobs going overseas, this may turn out to be a jobless recovery, but American companies continue to prosper.
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Toward the end that corporate America continue to create jobs (in this jobless recovery) I urge it to create them for the next generation of knowledge workers.
Buttonwood's first and second laws suggest this is unlikely to last, not least because worries about America's jobless recovery now seem about as relevant as fears about deflation.
For the last two years earnings season has provided a boost to the market as companies surpass Wall St estimates, even though it has been largely a jobless recovery.
Concerns now are more closely linked to mid-cycle economic management than structural problems, like in the US with its jobless recovery ( Brazil hired more people this year than the US).
What accounts for this jobless recovery?
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Gold is trading at an all time high Monday morning in Asian markets and oil is lower on concerns that the world economy is about to slow down near-term as Europe works out its sovereign debt issues, and the US battles a slow, jobless recovery.
Perhaps we will call this the "job loss recovery" because we don't seem to have turned the corner in the labor market--and it appears much worse than earlier jobless recoveries (thanks to Erica Groshen at the New York Fed for finding that the first use of the term "jobless recovery" was in The New York Times in the 1930s).
What happens when you diminish job creation as a driving economic focus became obvious with confirmation, just as the Labor Day weekend began, that the U.S. economy is now deep in the midst of a "jobless recovery, " with nearly 30 million American workers effectively unemployed, of whom 8.5 million have been out of work for more than six months.
In a healthy recovery, the jobless rate declines as more workers collecting unemployment checks find full or part-time work and get off the government dole.
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Japan's unemployment rate remains high, at 4.7%, despite a recent recovery, and the jobless rate among the youngest workers is more than twice that.
The speed of the recovery will still be the main influence on the jobless rate.
As has occurred before, the number of jobless could carry on rising even in the early stages of recovery.
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