Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/272611 
Year of Publication: 
2023
Series/Report no.: 
IZA Discussion Papers No. 15984
Publisher: 
Institute of Labor Economics (IZA), Bonn
Abstract: 
This paper studies how U.S. local labor markets respond to employment losses that occur during recessions. Following recessions from 1973 through 2009, we find that areas that lose more jobs during the recession experience persistent relative declines in employment and population. Most importantly, these local labor markets also experience persistent decreases in the employment-population ratio, earnings per capita, and earnings per worker. 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.
Subjects: 
local labor markets
recessions
employment rates
migration
JEL: 
J21
J61
R23
Document Type: 
Working Paper

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