As we emerge from our nation's longest jobless recovery, what lessons does that experience have for us?  While our aggregate economy is more stable overall (fewer, shorter and shallower recessions), competition is tougher and the pace of change may is if anything more rapid.  What are the key trends in the labor market, such as layoff and hiring patterns, outsourcing, and job quality?  Is the paper industry different?  How can we put them in perspective as we embark on the next economic expansion?

Erica Groshen is currently the Assistant Vice President, Research and Market Analysis Group at the Federal Reserve Bank of New York . She conducts research on labor markets over the business cycle, wage rigidity and dispersion, and the role of employers in labor market outcomes. She is a leader of the International Wage Flexibility Project and co-authored the recently released book How New is the "New Employment Contract"? from the W.E. Upjohn Institute Press. She also edits the Bank's Economic and Policy Review, the flagship publication of the Research Department.

The Distinguished Lecture Series is offered live in the Institute of Paper Science and Technology's Kress Auditorium and by live and archived webcast. For more information on the Distinguished Lecture Series or to register for the FREE webcast please visit: http://www.cpbis.gatech.edu/dls2005. The lectures are co-sponsored by CPBIS and the Institute of Paper Science and Technology (IPST) at Georgia Tech.

About CPBIS: The Center for Paper Business and Industry Studies (CPBIS) is business led and research focused. It is a globally recognized and industry-valued academic center, creating knowledge and tools that support paper industry decision-makers, and producing interdisciplinary graduates who contribute to the long-term success of the paper industry. The CPBIS is cosponsored by the Alfred P. Sloan Foundation, the Georgia Institute of Technology (Georgia Tech), and the Paper Industry.