The cost of job loss and the great recession

Aaron Pacitti

Journal of Post Keynesian Economics, 2011, vol. 33, issue 4, 597-620

Abstract: This paper analyzes four measures of the cost of job loss for 2001:1-2009:4. All measures reached a record or near-record high in 2009, with the rise being driven by record high unemployment duration and record low reemployment duration. In 2009:4, the real weekly cost of job loss was $352.57, or 41.74 percent of predisplacement earnings. Expected costs of job loss have nearly doubled since the beginning of the Great Recession. Evidence suggests that these costs do not peak until two to three years after the end of a recession. Macroeconomic implications are explored and policy recommendations are offered.

Keywords: cost of job loss; reemployment; unemployment; unemployment duration (search for similar items in EconPapers)
Date: 2011
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://mesharpe.metapress.com/link.asp?target=contribution&id=C47T1277H565L125 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:mes:postke:v:33:y:2011:i:4:p:597-620

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/MPKE20

Access Statistics for this article

More articles in Journal of Post Keynesian Economics from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().