(p. 5) [There are] . . . two underappreciated aspects of our long economic slump. First, it has exacted the harshest toll on the young — even harsher than on people in their 50s and 60s, who have also suffered. And while the American economy has come back more robustly than some of its global rivals in terms of overall production, the recovery has been strangely light on new jobs, even after Friday’s better-than-expected unemployment report. American companies are doing more with less.
“This still is a very big puzzle,” said Lawrence F. Katz, a Harvard professor who was chief economist at the Labor Department during the Clinton administration. He called the severe downturn in jobs “the million-dollar question” for the economy.
For the full commentary, see:
DAVID LEONHARDT. “CAPITAL IDEAS; The Idled Young Americans.” The New York Times, SundayReview Section (Sun., May 5, 2013): 5.
(Note: ellipsis, and words in brackets, added.)
(Note: the online version of the commentary has the date May 3, 2013.)