The US labour market after the COVID-19 recession

Ramon Gomez-Salvador and Michel Soudan

No 298, Occasional Paper Series from European Central Bank

Abstract: The US economy has endured an exceptionally severe recession caused by the measures put in place to contain the spread of COVID-19. This occasional paper assesses the impact of this crisis on key labour market variables, such as (un-)employment, wages and productivity, and highlights the differences versus past recessions, with an emphasis on the global financial crisis (GFC). It also presents a comparison of developments in certain key variables between the euro area and the United States, and it discusses the outlook in the United States for the ongoing recovery. JEL Classification: J20, J30, J60

Keywords: Beveridge curve; job flows; labour market tightness; Phillips curve; unemployment rate (search for similar items in EconPapers)
Date: 2022-07
New Economics Papers: this item is included in nep-lab
Note: 375755
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbops:2022298

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