Less Hiring—Not More Layoffs—Is Root Case of Weak Job Market
Created on September 4, 2014
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Read the original report, "Not Looking for Work: Why Labor Force Participation Has Fallen During the Recovery," by James Sherk.
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In the aftermath of the recession, there was a dropoff in new hires and a spike in layoffs. However, the number of layoffs returned to pre-recession levels within a year, while six years later new hires remain significantly below the pre-recession level of 15.4 million jobs per quarter.
Source: U.S. Department of Labor, Bureau of Labor Statistics, “Job Opening and Labor Turnover Survey”/Haver Analytics.
CHART 6 • BG 2722 (2014)
Tags: labor-force-participation, employment, unemployment, jobs, recession,