Tuesday, April 3, 2012

Recessions Affect Demographics Groups Differently

From "Who Suffers During Recessions?" by Hilary W. Hoynes, Douglas L. Miller and Jessamyn Schaller, NBER Working Paper No. 17951, Issued in March 2012:
Our findings are summarized as follows. First, the labor market decline in the Great Recession is both deeper and longer than the early 1980s recession. Second, the impacts of the Great Recession have been felt most strongly for men, black and Hispanic workers, youth, and low‐education workers. Third, these dramatic differences in the cyclicality across demographic groups are remarkably stable across three decades of time and across recessionary periods versus expansionary periods. Fourth, the differences across demographic groups during the 2007 recession to a large extent are explained by variation in the groups’ exposure to cycles across industry‐occupation.

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