Jobless Recovery
A "Jobless Recovery" refers to an economic situation where a country experiences growth in its economy, indicated by rising gross domestic product (GDP), but does not see a corresponding increase in employment. This phenomenon can occur after a recession when businesses may improve their profits and productivity without hiring new workers, often due to advancements in technology or changes in business practices.
During a jobless recovery, many individuals may struggle to find work despite the overall economic improvement. Factors contributing to this situation include shifts in labor demand, skills mismatches, and the impact of automation. As a result, the benefits of economic growth may not be felt equally across the population, leading to ongoing challenges for the workforce.