Only in the Washington Post: No Link Between Growth and Jobs

The link between job growth and economic growth is one of the most solid relationships that you will find in economics. The reason is that it is almost definitional.


If we hold the length of the average work year constant (it doesn't change quickly -- although perhaps it should), then the rate of economic growth is equal to the rate of productivity growth plus the rate of job growth. (Yes, there is a multiplicative element here for serious nerds, but it doesn't matter for what we are talking ...

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Published on March 04, 2012 05:35
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