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Briefing
Why Is Geographic Mobility Declining?
Key TakeawaysIn the U.S., people of all ages are moving less than they did 30 years ago. In this article, we describe some of the leading economic explanations for this decline in geographic mobility.One set of explanations focuses on long-term trends such as population aging and expanding earnings opportunities for women.Another set of explanations focuses on changes in the geographic distribution of earnings, urban amenities and housing prices.
Working Paper
The Long-Lived Cyclicality of the Labor Force Participation Rate
How cyclical is the U.S. labor force participation rate (LFPR)? We examine its response to exogenous state-level business cycle shocks, finding that the LFPR is highly cyclical, but with a significantly longer-lived response than the unemployment rate. The LFPR declines after a negative shock for about four years—well beyond when the unemployment rate has begun to recover—and takes about eight years to fully recover after the shock. The decline and recovery of the LFPR is largely driven by individuals with home and family responsibilities, as well as by younger individuals spending time ...