Briefing
Potential causes and implications of the rise in long-term unemployment
Abstract: Long-term unemployment rose dramatically during the recent recession and remains elevated. A primary cause may be the fact that more workers with inherently low job finding rates have become unemployed. This would suggest that the natural rate of unemployment has increased, and that additional monetary stimulus may have only a limited effect on reducing unemployment.
Keywords: Labor market; Unemployment; Recessions; Monetary policy;
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Bibliographic Information
Provider: Federal Reserve Bank of Richmond
Part of Series: Richmond Fed Economic Brief
Publication Date: 2011
Issue: Sep
Order Number: 11-9