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Federal Reserve Bank of Richmond
Richmond Fed Economic Brief
Are depression-era employment swings overstated?
Jonathan Lecznar
Jessica Sackett Romero
Pierre-Daniel G. Sarte

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.

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Jonathan Lecznar & Jessica Sackett Romero & Pierre-Daniel G. Sarte, "Are depression-era employment swings overstated?" , Federal Reserve Bank of Richmond, Richmond Fed Economic Brief, issue Nov, 2012.
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Keywords: Labor market ; Unemployment
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