Working Paper

Pandemic Layoffs and the Role of Stay-At-Home Orders

Abstract: We compile a novel high-frequency, detailed geographic dataset on mass layoffs from U.S. state labor departments. Using recent advances in difference-in-difference estimation with staggered treatment, we find that locally-mandated stay-at-home orders issued March 16–22, 2020 triggered mass layoffs equal to half a percent of the population in just one week. Our findings contribute to explanations for why job loss in 2020 was synchronous and catastrophic, yet temporary.

Keywords: covid19; pandemic; layoffs; unemployment; recovery;

JEL Classification: E32; J63; J64;

https://doi.org/10.24148/wp2024-20

Bibliographic Information

Provider: Federal Reserve Bank of San Francisco

Part of Series: Working Paper Series

Publication Date: 2024-07-10

Number: 2024-20