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Book Review for Not Working:   Where Have All the Good Jobs Gone?

Book Review for Not Working:   Where Have All the Good Jobs Gone? Business Economics (2020) 55:95–97 https://doi.org/10.1057/s11369-020-00165-5 BOOK RE VIE W Princeton University Press, 2019 David Wiczer Published online: 9 March 2020 © National Association for Business Economics 2020 Throughout the recovery from the Great Recession, there workers in and out of unemployment is mechanically not a was a common refrain that the labor market was recover- likely source of wage growth. This is because unemployed ing even more slowly than common measures would sug- workers tend to have left relatively low-wage jobs and then gest. Even as the unemployment rate fell into ranges that return to low wage jobs, and thus move the central moments would seem “normal” by pre-recession standards, many (mean and median) little, as convincingly shown by Daly in the financial press and policy-making institutions were and Hobijn (2016) or Hahn et al. (2018). incredulous. A common refrain was that the statistic was Instead of unemployment, “underemployment” is sup- no longer a reliable summary of labor conditions and the posed to be a superior indicator. For the US context, the recovery was still incomplete and warranted further expan- book’s notion of underemployment is the fraction of workers sionary policy. Many labor market indicators did recover who are working part-time http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Business Economics Springer Journals

Book Review for Not Working:   Where Have All the Good Jobs Gone?

Business Economics , Volume 55 (2): 3 – Apr 1, 2020

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Publisher
Springer Journals
Copyright
2020 National Association for Business Economics
ISSN
0007-666X
eISSN
1554-432X
DOI
10.1057/s11369-020-00165-5
Publisher site
See Article on Publisher Site

Abstract

Business Economics (2020) 55:95–97 https://doi.org/10.1057/s11369-020-00165-5 BOOK RE VIE W Princeton University Press, 2019 David Wiczer Published online: 9 March 2020 © National Association for Business Economics 2020 Throughout the recovery from the Great Recession, there workers in and out of unemployment is mechanically not a was a common refrain that the labor market was recover- likely source of wage growth. This is because unemployed ing even more slowly than common measures would sug- workers tend to have left relatively low-wage jobs and then gest. Even as the unemployment rate fell into ranges that return to low wage jobs, and thus move the central moments would seem “normal” by pre-recession standards, many (mean and median) little, as convincingly shown by Daly in the financial press and policy-making institutions were and Hobijn (2016) or Hahn et al. (2018). incredulous. A common refrain was that the statistic was Instead of unemployment, “underemployment” is sup- no longer a reliable summary of labor conditions and the posed to be a superior indicator. For the US context, the recovery was still incomplete and warranted further expan- book’s notion of underemployment is the fraction of workers sionary policy. Many labor market indicators did recover who are working part-time

Journal

Business EconomicsSpringer Journals

Published: Apr 1, 2020

References