Region Focus

Third Quarter 2011

Why Aren't We Creating More Jobs? Job growth usually rebounds quickly after a severe recession, but this time is different

The United States has gained a little more than 1 million jobs since the end of the most recent downturn — far from the number needed to put 14 million people back to work. Given the factors holding back job growth, traditional policy tools might not be able to offer a solution.

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Related Links

Alesina, Alberto, Silvia Ardagna, Giuseppe Nicoletti, and Fabio Chiantarelli. "Regulation and Investment." Journal of the European Economic Association, June 2005, vol. 3, no. 4, pp. 791-825.

Bloom, Nick. "The Impact of Uncertainty Shocks." Econometrica, May 2009, vol. 77, no. 3, pp. 623-685.

Cogan, John, and John Taylor. "What the Government Purchases Multiplier Actually Multiplied in the 2009 Stimulus Package." National Bureau of Economic Research Working Paper No. 16505, October 2010. Revised January 2011.
October 2010 version 

Faberman, R. Jason. "Job Flows, Jobless Recoveries, and the Great Moderation." Federal Reserve Bank of Philadelphia Working Paper No. 08-11, June 2008.

Haltiwanger, John, Ron Jarmin, and Javier Miranda. "Who Creates Jobs? Small vs. Large vs. Young." National Bureau of Economic Research Working Paper No. 16300, August 2010.

Neumark, David. "How Can California Spur Job Creation?" Public Policy Institute of California, February 2011.

Wilson, Daniel. "Fiscal Spending Jobs Multipliers: Evidence from the 2009 American Recovery and Reinvestment Act." Federal Reserve Bank of San Francisco Working Paper No. 2010-17, June 2010. Revised October 2011.

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