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How Jobless Is Our Recovery?
Sunday, November 8, 2009
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VIDEO
How Jobless Is Our Recovery?
May 10, 2004
09:00 AM — 11:00 AM
Over the past year, stock markets have climbed, productivity and GDP have soared, but job creation appears to have lagged. While job creation took off in March 2004, the cumulative record suggests that this recovery still lags significantly behind past experience. Or does it? In a new paper, Tim Kane of the Heritage Foundation explores possible design flaws in government statistics that may lead them to misinterpret job creation. Correcting for these flaws, he finds that the latest recovery is not nearly as “jobless” as it first seemed. Many government officials, however, have disagreed with Mr. Kane’s analysis and have argued that the negative statistics cited are based on the best possible measure of employment. Is the United States truly in a jobless recovery, or is the primary method of measuring job creation the real problem?
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