I n late 1992, over a year after the current recovery began, the economy shook off its "jobless recovery" label and began producing jobs at a pace

similar to that achieved in earlier recoveries. Yet, despite the historically modest rise in unemployment during the recent recession, the relatively weak expansion has left involuntary part-time work unusually high, and labor-force participation has actually fallen. The heavy reliance on temporary jobs-20% of all private-sector jobs created-is another worrisome dimension of the recovery.