US Labor Market after COVID-19: An Interim Report
Abstract: Headline numbers have shown that the US labor market has recovered the jobs lost during the pandemic. Nevertheless, there is significant variation in the recovery across states and counties and across occupations and industries. Using the available data from the monthly Current Population Survey and the Bureau of Labor Statistics’ State and Metro Area Employment, Hours, and Earnings for January 2019 to August 2022, we present the changing patterns in the labor market. We also highlight some possible underlying reasons that are correlated with the varying patterns across groups and space. Finally, we look at the spatial distribution of the employment across states and micro and metropolitan areas. Results are in line with an uneven recovery across areas, while at odds with a narrative based on working arrangements making economic activity more even across space.
Keywords: labor market; COVID-19;
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Provider: Federal Reserve Bank of Cleveland
Part of Series: Economic Commentary
Publication Date: 2023-02-13