The jobless recovery after the 1980–1981 British recession

Meredith Paker

Explorations in Economic History, 2023, vol. 90, issue C

Abstract: Extensive research has been conducted on the concept of jobless recoveries and their potential causes, primarily focused on the United States from the 1990s. This paper finds that the prolonged employment downturn following the brief 1980–1981 recession in Britain qualifies as a jobless recovery and then investigates possible contributing factors: labor reallocation across industries, regional employment changes, and job polarization. The United States, which did not have a jobless recovery from the early 1980s recession, is taken as a comparison case. I find that the leading candidate explanation for this jobless recovery is the reallocation of labor across industries. This suggests an important role for structural change in the early 1980s recession and in jobless recoveries more generally.

Keywords: Jobless recovery; Unemployment; Industrial reallocation; Job polarization; Okun’s law (search for similar items in EconPapers)
JEL-codes: E32 J64 N14 N34 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eee:exehis:v:90:y:2023:i:c:s0014498323000396

DOI: 10.1016/j.eeh.2023.101545

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