Publication

This report examines the long-run relationship between growth and unemployment as well as the periods of growth from postwar US recessions. The persistently high unemployment rate is a cause of concern to Congress for a variety of reasons. These include its deleterious effect on individuals' economic well-being and the budget deficit due to lower revenue and higher expenditures. The slow rebound of the labor market has renewed calls in some quarters for measures to stimulate the economy beyond those Congress has previously enacted.