The labor market in the great recession
"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...
| Main Authors: | , , , |
|---|---|
| Institution: | ETUI-European Trade Union Institute |
| Format: | TEXT |
| Language: | English |
| Published: |
Cambridge, MA
2010
NBER |
| Subjects: | |
| Online Access: | https://www.labourline.org/KENTIKA-19184765124919029479-The-labor-market-in-the-great-.htm |
| _version_ | 1771659894689103872 |
|---|---|
| author | National Bureau of Economic Research, Cambridge Elsby, Michael Hobijn, Bart Sahin, Aysegul |
| author_facet | National Bureau of Economic Research, Cambridge Elsby, Michael Hobijn, Bart Sahin, Aysegul |
| collection | Library items |
| description | "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. " |
| format | TEXT |
| geographic | EU countries USA |
| id | 19184765124919029479_2e64869778454690961f45a95f81e1e9 |
| institution | ETUI-European Trade Union Institute |
| is_hierarchy_id | 19184765124919029479_2e64869778454690961f45a95f81e1e9 |
| is_hierarchy_title | The labor market in the great recession |
| language | English |
| physical | 47 p. Digital |
| publishDate | 2010 |
| publisher | Cambridge, MA NBER |
| spellingShingle | National Bureau of Economic Research, Cambridge Elsby, Michael Hobijn, Bart Sahin, Aysegul comparison economic recession history labour market statistics unemployment The labor market in the great recession |
| thumbnail | https://www.labourline.org/Image_prev.jpg?Archive=115734693391 |
| title | The labor market in the great recession |
| topic | comparison economic recession history labour market statistics unemployment |
| url | https://www.labourline.org/KENTIKA-19184765124919029479-The-labor-market-in-the-great-.htm |