Factors in Unemployment Dynamics

Hie Joo Ahn and James Hamilton
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Hie Joo Ahn: https://www.federalreserve.gov/econres/hie-joo-ahn.htm

No 2018-12-21-3, FEDS Notes from Board of Governors of the Federal Reserve System (U.S.)

Abstract: The U.S. unemployment rate averaged 8.4% during the first five years of recovery from the Great Recession of 2007-2009, the weakest recovery on record. But as the expansion continued, unemployment continued to decline and by 2018 reached the lowest levels in almost half a century. In this Note, we explore why unemployment remained so high for so long, and what factors contributed to the recent lows.

Date: 2018-12-21
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfn:2018-12-21-3

DOI: 10.17016/2380-7172.2274

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