Strong U.S. employment driven by sectors less sensitive to business cycles

Alexander Chudik and Ronald Mau

Dallas Fed Economics from Federal Reserve Bank of Dallas

Abstract: The U.S. has enjoyed strong payroll job gains in the past couple of years despite generally restrictive monetary policy. The sectoral composition of employment reveals job growth has been concentrated in areas that are the least sensitive to national employment fluctuations over the business cycle.

Keywords: business cycles; employment; monetary policy (search for similar items in EconPapers)
Date: 2025-04-01
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Persistent link: https://EconPapers.repec.org/RePEc:fip:d00001:99758

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