Jobs and growth are still linked (that is, Okun’s Law still holds)
Ball, Laurence, Leigh, Daniel & Loungani, Prakash. Will recovery be jobless? A broad array of analysts, from Vox columnists to McKinsey, are arguing that Okun’s Law is broken. This column presents new research suggesting that, in fact, Okun is alive and well. When output recovers, the jobs will come back, although employment will differ across countries. There […]