Are depression-era employment swings overstated?

Lecznar, Jonathan; Romero, Jessica Sackett; Sarte, Pierre-Daniel G.

Briefing

Are depression-era employment swings overstated?

Abstract: The rapid fall in unemployment after the Great Depression suggests that there is nothing inherently persistent in a high unemployment rate. But a closer examination of the data indicates that changes in the unemployment rate might not have been as pronounced as generally believed.

Keywords: Labor market; Unemployment;