Jobless Growth

A phenomenon that took hold after the 2008 financial crisis

Jobless growth refers to the phenomenon where the economy grows but employment does not. When companies make money, they spend it on automating their facilities rather than on hiring or on worker welfare, so employment does not rise. What is striking is that this phenomenon was already predicted before the Dot-com Bubble, in the period that was called the New Economy. Perhaps the New Economy we wished so hard for is just another name for jobless growth.

---

Topics: The Subprime Mortgage Crisis,Das Kapital,New Economy,Dot-com Bubble,Great Recession
Category: Wiki/Economy