Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/260712 
Year of Publication: 
2021
Citation: 
[Journal:] IZA World of Labor [ISSN:] 2054-9571 [Article No.:] 361v3 [Publisher:] Institute of Labor Economics (IZA) [Place:] Bonn [Year:] 2021
Publisher: 
Institute of Labor Economics (IZA), Bonn
Abstract: 
As the largest economy in the world, the US labor market is crucial to the economic well-being of citizens worldwide as well as, of course, that of its own citizens. Since 2000 the US labor market has undergone substantial changes, reflecting the Great Recession and the Covid Recession, but also resulting from some striking trends. Most interesting have been a remarkable drop in the labor force participation rate, reversing a nearly 50-year trend; the full recovery of unemployment after 2010 and its skyrocketing in 2020; and the little-known continuing growth in post-inflation average earnings.
Subjects: 
unemployment
real earnings
inequality
US
JEL: 
E24
N32
Persistent Identifier of the first edition: 
Document Type: 
Article

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