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Weak Jobs Recovery: Whatever Happened to “the Great American Jobs Machine”?
This paper examines the operation of the U.S. labor market in the 2001 recovery. Because the United States is in the middle of the recovery, ours is a real-time analysis; thus, some conclusions could change if the recovery stalls or employment grows suddenly.
Link
http://www.newyorkfed.org/research/epr/05v11n1/0508free.pdf