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States Are Recovering Lost Jobs at Surprisingly Similar Rates

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Abstract

The U.S. economy lost more than 8 million jobs between January 2008 and February 2010. In contrast with earlier recessions, employment declines were seen across almost all states. The extent varied: In this recession, states with big housing busts generally saw steeper job losses, especially in construction, while some states also had severe job losses driven by manufacturing declines. One feature of this employment recovery is that it?s actually been quite uniform across states?and much more uniform than in earlier recoveries. With few exceptions, states appear to be marching in lockstep.

Suggested Citation

  • Jason Bram & James A. Orr, 2013. "States Are Recovering Lost Jobs at Surprisingly Similar Rates," Liberty Street Economics 20130626, Federal Reserve Bank of New York.
  • Handle: RePEc:fip:fednls:86876
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    More about this item

    Keywords

    recession; recovery; Employment; state economy;
    All these keywords.

    JEL classification:

    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
    • J00 - Labor and Demographic Economics - - General - - - General
    • R1 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics

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