Job Loss in the Great Recession: Historical Perspective from the Displaced Workers Survey, 1984-2010
By Henry S. Farber. Social Science Research Network, 2011
188 citations recorded by the source corpus.
The Great Recession from December 2007 to June 2009 is associated with a dramatic weakening of the labor market from which the labor market is now only slowly recovering. The unemployment rate remains stubbornly high and durations of unemployment are unprecedentedly long. I use data from the Displaced Workers Survey (DWS) from 1984-2010 to investigate the incidence and consequences of job loss from 1981-2009. In particular, the January 2010 DWS, which captures job loss during the 2007-2009 period, provides a window through which to examine the experience of job losers in the Great Recession and to compare their experience to that of earlier job losers. These data show a record high rate of job loss, with almost one in six workers reporting having lost a job in the 2007-2009 period. The consequences of job loss are also very serious during this period with very low rates of reemployment, difficulty finding full-time employment, and substantial earnings losses.
Subfields: Demography, Economics and Econometrics, General Health Professions
View Paper: https://www.semanticscholar.org/paper/77f995c498217517fc1dbed01c447474a9570c93
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In Demography
In Economics and Econometrics
In General Health Professions
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Citations in the corpus
- Quantitative Analysis of Unemployment Benefit Extensions (2012, background): “The step size is consistent with Farber (2011), who reports that job losers experience on average about 15 percent of real weekly earnings.”
- The Labor Supply of Undocumented Immigrants (2017, background): “It is well known that there has been a steep and long-term decline in the labor supply of men over the past few decades, and that this decline perhaps accelerated after the onset of the Great Recession in 2008 (Aaronson et al., 2006; Aaronson et al., 2014; Farber, 2011).”