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Fourth District Conditions

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By one measure (using Establishment Survey data), job creation has been so weak during some phases of the current recovery—even worse than in the previous, so-called “jobless” recovery—that some have dubbed this the “job loss” recovery. An alternative measure (using Household Survey data) showed a better but still weak increase in jobs following the recession. Both measures suggest that national labor markets are now on a much firmer footing.

Suggested citation: "Fourth District Conditions," Federal Reserve Bank of Cleveland, Economic Trends, no. 04-07, pp. 14-16, 07.01.2004.

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