What’s wrong with the American job engine? The simple answer is that the economy is growing far too slowly to employ the available work force. But there’s a deeper issue going on. The past four decades have witnessed changes in the makeup of the economy, and the industries that dominate economic expansions have changed over the years. A look back at past expansions offers some clues.
http://blogs.wsj.com/economics/2011/11/08/where-are-the-jobs-a-look-back-at-growth-drivers/
