A jobless recovery or jobless growth is an economic phenomenon in which a macro economy experiences growth while maintaining or decreasing its level of employment.

1. Jobless Growth
Macro Economics

2. Prepared By
Manu Melwin Joy
Assistant Professor
SCMS School of Technology and Management
Kerala, India.
Phone – 9744551114
Mail – manu_melwinjoy@yahoo.com
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3. Jobless Growth
• A jobless recovery or jobless
growth is an economic
phenomenon in which a
macro economy experiences
growth while maintaining or
decreasing its level of
employment.

5. Jobless Growth
• The term was coined by the economist Nick Perna
in the early 1990s.

7. Causes of Jobless Growth
• Economists are still divided
about the causes and cures
of a jobless recovery: some
argue that increased
productivity through
automation has allowed
economic growth without
reducing unemployment.

9. Causes of Jobless Growth
• Other economists state that
blaming automation is an example
of the luddite fallacy and that
jobless recoveries stem from
structural changes in the labor
market, leading to unemployment
as workers change jobs or
industries.

11. • Some have argued that the recent lack of job creation in
the United States is due to increased industrial
consolidation and growth of monopoly or oligopoly
power.

13. Industrial consolidation
• The argument is twofold: firstly,
small businesses create most
American jobs, and secondly,
small businesses have more
difficulty starting and growing
in the face of entrenched
existing businesses.