Part of the US's anemic post-recession labor market recovery is structural: workers pulled into housing (carpenters, electricians, drywall applicators) between roughly 1995 and 2005 must now reallocate, and growth will be slow until that structural adjustment is accomplished—though there is likely also a Keynesian demand-side element given how high unemployment rose.

causalpending

Speaker

Dani Rodrik

Evidence Quote

there's definitely a need for a structural adjustment... growth is going to be slow until you get that three just accomplished

Source

Dani Rodrik on Globalization, Development, and Employment 04/11/2011EconTalk
Created: 6/16/2026, 2:24:26 PM

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