Employment During the 2001–2003 Recovery
U.S. Congressional Budget Office
This background paper examines job growth following the 2001 recession. After declining by about 1.6 million jobs during that recession, employment fell by more than an additional million jobs in the first 18 months following the end of the recession. Understanding why employment fell even as output recovered can be useful both in assessing the labor market and in forecasting the path of employment during future recoveries.
employment; recovery; economic; recession; labor; productivity; employer; work; hours; health insurance; industry