Jobless recovery

From WikiMD.com - Food, Medicine & Wellness Encyclopedia

Jobless recovery refers to a phenomenon in economics where a macroeconomic recovery occurs after a recession, but the recovery does not include a corresponding recovery in the labor market. This results in high unemployment rates even as economic growth resumes.

Overview[edit | edit source]

The term "jobless recovery" was first coined in the early 1990s to describe the economic recovery that followed the early 1990s recession. During this period, the GDP growth rate rebounded, but the unemployment rate remained high. This trend has been observed in several subsequent economic recoveries, including the recovery following the Great Recession of 2008.

Causes[edit | edit source]

There are several potential causes for a jobless recovery. One possibility is that businesses may be hesitant to hire new workers immediately after a recession due to uncertainty about the future of the economy. Instead, they may choose to increase the productivity of their existing workforce or invest in automation or other technologies that can replace human labor.

Another potential cause is structural unemployment, which occurs when there is a mismatch between the skills that workers have and the skills that employers need. This can occur as a result of technological changes, globalization, or other factors that change the types of jobs that are available in the economy.

Implications[edit | edit source]

A jobless recovery can have significant implications for both individuals and society as a whole. For individuals, prolonged unemployment can lead to financial hardship, loss of skills, and psychological distress. For society, high unemployment rates can lead to increased social inequality, reduced consumer spending, and slower overall economic growth.

See also[edit | edit source]

References[edit | edit source]


Stub icon
   This article is a economics-related stub. You can help WikiMD by expanding it!



Jobless recovery[edit | edit source]

WikiMD
Navigation: Wellness - Encyclopedia - Health topics - Disease Index‏‎ - Drugs - World Directory - Gray's Anatomy - Keto diet - Recipes

Transform your life with W8MD's budget GLP1 injections in NYC from $125 and up biweekly

W8mdlogo.png
W8MD weight loss doctors team

W8MD offers a medical weight loss program NYC and a clinic to lose weight in Philadelphia. Our W8MD's physician supervised medical weight loss centers in NYC provides expert medical guidance, and offers telemedicine options for convenience.

Why choose W8MD?

Book Your Appointment

Start your NYC weight loss journey today at our NYC medical weight loss, and Philadelphia and visit Philadelphia medical weight loss Call (718)946-5500 for NY and 215 676 2334 for PA

Search WikiMD

Ad.Tired of being Overweight? Try W8MD's NYC physician weight loss.
Semaglutide (Ozempic / Wegovy and Tirzepatide (Mounjaro / Zepbound) available. Call 718 946 5500.
Advertise on WikiMD

WikiMD's Wellness Encyclopedia

Let Food Be Thy Medicine
Medicine Thy Food - Hippocrates

Medical Disclaimer: WikiMD is not a substitute for professional medical advice. The information on WikiMD is provided as an information resource only, may be incorrect, outdated or misleading, and is not to be used or relied on for any diagnostic or treatment purposes. Please consult your health care provider before making any healthcare decisions or for guidance about a specific medical condition. WikiMD expressly disclaims responsibility, and shall have no liability, for any damages, loss, injury, or liability whatsoever suffered as a result of your reliance on the information contained in this site. By visiting this site you agree to the foregoing terms and conditions, which may from time to time be changed or supplemented by WikiMD. If you do not agree to the foregoing terms and conditions, you should not enter or use this site. See full disclaimer.
Credits:Most images are courtesy of Wikimedia commons, and templates, categories Wikipedia, licensed under CC BY SA or similar.

Contributors: Prab R. Tumpati, MD