This paper analyses jobless growth which has been appearing since 1990s focusing upon US economy. It has usually been understood that this phenomenon is thought to be as a short run one. However this interpretation is due to the defects of macrodynamic models which treat the trend and cyclical factors separately, and focus only on the propagation mechanism when external productivity shocks occur. The capitalist accumulation process with technological innovation always shows structural instability which Marx-Goodwin model well represents. According to this approach, jobless growth could be a symptom of structural instability which can result from the interaction of persistent structural crises of capitalistic system.