Journal Article

Labor Market Tightness across the United States since the Great Recession


Abstract: Though labor market statistics are often reported and discussed at the national level, conditions can vary quite a bit across individual states. We explore differences in these conditions before and after the Great Recession using a ratio of the number of unemployed workers to job vacancies. We show that the intensity of the adverse effects of the recession and the strength of the recovery varied geographically at all points in the process. We also demonstrate that wage growth is delayed until the ratio of unemployed workers to job vacancies returns to prerecession levels.

Keywords: Geographic Differences; Wages; Great Recession; Labor Market;

https://doi.org/10.26509/frbc-ec-201801

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Bibliographic Information

Provider: Federal Reserve Bank of Cleveland

Part of Series: Economic Commentary

Publication Date: 2018-01-16

Volume: 2018

Issue: 01

Pages: 6