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The Increase in Unemployment Since 2007: Is It Cyclical or Structural?

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Show full item recordAuthor
Levine, Linda
Abstract
[Excerpt] This report assesses the relative magnitudes of cyclical and structural unemployment as they respond to different policy measures. An analysis of changes since 2007 in a variety of labor market indicators across industries and areas finds patterns that strongly suggest most of the increase in the U.S. unemployment rate is cyclical (i.e., due to depressed aggregate demand). Empirical studies suggest that, although structural unemployment has temporarily increased, it accounted for a minority of the rise in the unemployment rate in recent years.
Date Issued
2013-01-24Subject
cyclical unemployment; structural unemployment; labor market; policy measures
Type
unassigned