A Comparative Analysis of the US and Korea
Edited by John Karl Scholz, Hyungypo Moon and Sang-Hyup Lee
Chapter 4: Understanding differences in job growth in Europe, Canada and the United States: what went wrong in the United States?
Alan Krueger attempts to understand what went wrong in the US job market in the 2000s and why job growth slowed down even before the Great Recession that began in 2008. Because Canada is similar to the United States in terms of geography, technology, productivity and exposure to global markets, particular attention is devoted to comparing job growth in Canada with the United States. Krueger cites six possible reasons for weak job growth, provides evidence for two of them (the aging workforce and health insurance as a fixed cost of employment) and conjectures on the others. A rough calculation to decompose the change in the employment-to-population ratio suggests that about a third of the drop can be attributed to the secular trend and about two-thirds can be attributed to the cycle. Assuming that the factors for the secular trend are still present, he turns to possible causes of the downward trend: age, education and gender.
You are not authenticated to view the full text of this chapter or article.
Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.
Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.
Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.