Full Citation

Title: The Evolution of Local Labor Markets after Recessions

Citation Type: Working Paper

Publication Year: 2022

ISBN:

ISSN: 1962-5361

DOI: 10.21799/FRBP.WP.2022.16

NSFID:

PMCID:

PMID:

Abstract: This paper studies how U.S. local labor markets respond to employment losses after recessions. Following each recession between 1973 and 2009, we find that areas that lose more jobs during the recession experience persistent relative declines in employment and population. Most importantly and contrary to prior work, these local labor markets also experience persistent decreases in the employment-population ratio and per capita earnings. Our results imply that limited population responses result in longer-lasting consequences for local labor markets than previously thought, and that recessions are followed by persistent reallocation of employment across space.

Url: https://www.philadelphiafed.org/the-economy/regional-economics/the-evolution-of-local-labor-markets-after-recessions

User Submitted?: No

Authors: Hershbein, Brad; Stuart, Bryan

Series Title: Federal Reserve Bank Philadelphia Working Papers Research Department

Publication Number: WP 22-16

Institution: Federal Reserve Bank of Philadelphia

Pages: 1-88

Publisher Location: Philadelphia

Data Collections: IPUMS USA, IPUMS NHGIS

Topics: Labor Force and Occupational Structure

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