September Job Growth Is Only One-Third of Average Job Growth For An Economic Recovery Period
Publication Date: October 2004
Author(s): Isaac Shapiro
Special Collection: John D. and Catherine T. MacArthur Foundation
Keywords: Job creation; Economic inequality; Economic projections
The number of jobs grew by 96,000 in September. This is one-third the job growth of 300,000 per month that would have been achieved if job growth had occurred at the rate that is average for a recovery, according to the definition of average used by the chairman of the President’s Council of Economic Advisers. This continues a pattern predominant during the past year of job growth; with few exceptions, this growth has lagged behind — and usually well behind — the pace of job growth typically associated with a recovery period.