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Article: ECONOMY GROWS, BUT JOBS FLOW OVERSEAS.(MAIN)
- Article from:
- Albany Times Union (Albany, NY)
- Article date:
- August 10, 2003
CopyrightCOPYRIGHT 2003 Albany Times Union. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: KEN MORITSUGU Knight Ridder
WASHINGTON -- Many economists predicted a jobless recovery, but few expected it to last so long.
Twenty-one months after the official end of the recession in November 2001, the number of jobs in the United States continues to decline. Economists call it a ``growth recession,'' in which the economy grows so slowly that it doesn't add jobs.
The underlying problem is that growth has remained subpar for an unusually long time. But economists also are focusing on two fundamental economic changes: the increasing use of technology to produce more goods and services with fewer workers and the movement of a greater ...