unemployment was relatively slow with respect to sustained economic growth. Following Holden and Wulfsberg (2009), we compute a …

"During the economic expansion of the 1990s, the United States enjoyed both low inflation rates and low levels of … unemployment. Juhn, Murphy, and Topel (2002) point out that the low unemployment rates for men in the 1990s were accompanied by … historically high rates of non-employment suggesting that the 1990s economy was not as strong as the unemployment rate might …