Three-And-A-Half Million U.S. Employees Have Been Mislaid: Or, An Explanation of Unemployment, 1934-1941
AbstractA major conceptual error in the standard BLS and Lebergott unemployment estimates for 1933-1943 is reported. Emergency workers (employees of federal contracyclical programs such as WPA) were counted as unemployed on a normal-jobs-to-be-created instead of job-seekers unemployment definition. For 1934-1941, the corrected unemployment levels are reduced by two to three-and-a half million people and the rates by 4 to 7 percentage points. The corrected data show strong movement toward the natural unemployment rate after 1933 and are very well explained by an anticipations-search model using annual full-time earnings.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 0088.
Date of creation: May 1975
Date of revision:
Publication status: published as Darby, Michael R. "Three-And-A-Half Million U.S. Employees Have Been Mislaid: Or, An Explanation of Unemployment, 1934-1941." Journal of Political Economy, Vol. 84, No. 1, (February 1976), pp. 1-16.
Contact details of provider:
Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.
Web page: http://www.nber.org
More information through EDIRC
Other versions of this item:
- Darby, Michael R, 1976. "Three-and-a-Half Million U.S. Employees Have Been Mislaid: Or, an Explanation of Unemployment, 1934-1941," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 84(1), pages 1-16, February.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Gordon, Robert J, 1969. "$45 Billion of U.S. Private Investment Has Been Mislaid," American Economic Review, American Economic Association, American Economic Association, vol. 59(3), pages 221-38, June.
- Lucas, Robert E, Jr & Rapping, Leonard A, 1969. "Real Wages, Employment, and Inflation," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 77(5), pages 721-54, Sept./Oct.
- Price V. Fishback & Samuel Allen & Jonathan Fox & Brendan Livingston, 2010.
"A Patchwork Safety Net: A Survey of Cliometric Studies of Income Maintenance Programs in the United States in the First Half of the Twentieth Century,"
NBER Working Papers
15696, National Bureau of Economic Research, Inc.
- Price Fishback & Samuel Allen & Jonathan Fox & Brendan Livingston, 2010. "A Patchwork Safety Net: A Survey Of Cliometric Studies Of Income Maintenance Programs In The United States In The First Half Of The Twentieth Century," Journal of Economic Surveys, Wiley Blackwell, Wiley Blackwell, vol. 24(5), pages 895-940, December.
- Gerben Bakker, 2009. "Time and productivity growth in services: how motion pictures industrialized entertainment," Economic History Working Papers, London School of Economics and Political Science, Department of Economic History 27866, London School of Economics and Political Science, Department of Economic History.
- J. Huston McCulloch, 1977. "Misintermediation and Business Fluctuation," NBER Working Papers 0160, National Bureau of Economic Research, Inc.
- Price V. Fishback, 2012. "Relief During the Great Depression in Australia and America," CEH Discussion Papers 005, Centre for Economic History, Research School of Economics, Australian National University.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().
If references are entirely missing, you can add them using this form.