Reportgreen2011

Job Loss in the Great Recession: Historical Perspective from the Displaced Workers Survey, 1984-2010

131 citations0/0 files storedNational Bureau of Economic Research

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Labor market dynamics and wage inequality Employment and Welfare Studies Unemployment and Economic Growth

Abstract

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.

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References

2000Industry‐Specific Capital and the Wage Profile: Evidence from the National Longitudinal Survey of Youth and the Panel Study of Income Dynamics 1997The Changing Face of Job Loss in the United States, 1981-1995 1996A Review of the Recent Empirical Literature on Displaced Workers 1996A Review of the Recent Empirical Literature on Displaced Workers 1993The Incidence and Costs of Job Loss: 1982-91 1990Specific capital and unemployment: Measuring the costs and consequences of job loss 1987Job Displacement and Earnings Loss: Evidence from the Displaced Worker Survey 2005What Do We Know about Job Loss in the United States? Evidence from the Displaced Workers Survey, 1984-2004

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