Brief Why are Fewer People in the Labor Force During the Great Recession?
Stephan Lindner, Austin Nichols
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This study examines changes in labor force participation during and after the Great Recession and makes comparisons with the recession of 2001. A deceleration in labor force entry rather than an acceleration in labor force exits has driven the decline in labor force participation during and after the Great Recession. The decline in entry rates is concentrated among women, particularly young women and among men ages 55 and older. Moreover, we find that the labor force exit rate is lower following the Great Recession than it was following the 2001 recession.
Research Areas Wealth and financial well-being
Tags Employment and income data
Policy Centers Income and Benefits Policy Center