Bloomberg view:
Why the U.S. has a monopoly on jobless recoveries
23 January 2017
In a new paper called “Is Modern Technology Responsible for Jobless Recoveries?,” economists George Graetz and Guy Michaels looked at 17 different developed countries, from 1970 through 2011. The title refers to the hypothesis that companies replace routine workers with machines. Graetz and Michaels basically find that the modern jobless recovery is a phenomenon unique to the U.S., and that other nations manage to quickly re-employ their middle-skilled workers once bad times end.