The State of States’ Unemployment in the Fourth District

Murat Tasci, Caitlin Treanor and Christopher Vecchio

Economic Commentary, 2017, issue January

Abstract: Unemployment rates vary across individual US states at any point in time and respond to business-cycle fluctuations differently. Evaluating what constitutes a ?normal? level for the unemployment rate at the state level is not easy, but it is an important issue for policymakers. We introduce a framework that enables us to calculate the normal unemployment rate for each of the four states in the Fourth District and compare that rate to the national normal rate. We conclude that these states and the District as a whole have very little labor market slack left from the Great Recession.

Keywords: Great Recession; Labor Market Slack; Unemployment (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedcec:00063

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