G2TT
来源类型Working Paper
规范类型报告
DOI10.3386/w15979
来源IDWorking Paper 15979
The Labor Market in the Great Recession
Michael W. Elsby; Bart Hobijn; Aysegul Sahin
发表日期2010-05-27
出版年2010
语种英语
摘要From the perspective of a wide range of labor market outcomes, the recession that began in 2007 represents the deepest downturn in the postwar era. Early on, the nature of labor market adjustment displayed a notable resemblance to that observed in past severe downturns. During the latter half of 2009, however, the path of adjustment exhibited important departures from that seen during and after prior deep recessions. Recent data point to two warning signs going forward. First, the record rise in long-term unemployment may yield a persistent residue of long-term unemployed workers with weak search effectiveness. Second, conventional estimates suggest that the extension of Emergency Unemployment Compensation may have led to a modest increase in unemployment. Despite these forces, we conclude that the problems facing the U.S. labor market are unlikely to be as severe as the European unemployment problem of the 1980s.
主题Macroeconomics ; Consumption and Investment ; Business Cycles ; Labor Economics ; Unemployment and Immigration
URLhttps://www.nber.org/papers/w15979
来源智库National Bureau of Economic Research (United States)
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条目标识符http://119.78.100.153/handle/2XGU8XDN/573702
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Michael W. Elsby,Bart Hobijn,Aysegul Sahin. The Labor Market in the Great Recession. 2010.
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