Labor Markets Through the Lens of the Great Recession—2

2013 ◽  
Vol 61 (4) ◽  
pp. 561-565
Author(s):  
Pierre-Olivier Gourinchas ◽  
M Ayhan Kose
Keyword(s):  
Labor Markets ◽  
Great Recession ◽  
The Great Recession

Booms, Busts, and Changing Labor Markets

2017 ◽  
Author(s):  
James E. Coverdill ◽  
William Finlay
Keyword(s):  
Labor Markets ◽  
Great Recession ◽  
Risk Averse ◽  
The Great Recession ◽  
The Relationship

This chapter explores three issues. First, it shows why the Great Recession affected headhunting so severely: both the hiring rate and the quitting rate declined sharply. Second, it shows how this recession changed the relationship between headhunters and their clients, as the latter became increasingly difficult to please when presented with candidates, because they wanted “perfect” candidates only due to there being a supposed “buyer’s market.” Third, it explains why the recession made employees so reluctant to become candidates and why employee wounds became less effective in turning them into job-changers; candidates, especially those with secure jobs, were now far more risk averse. The Great Recession, notwithstanding the claims that it had created a buyer's market for employers, was not a bonanza for them or for headhunters.

High Tech and High Touch

2017 ◽  
Author(s):  
James E. Coverdill ◽  
William Finlay
Keyword(s):  
Social Media ◽  
Labor Market ◽  
Labor Markets ◽  
Great Recession ◽  
High Tech ◽  
Internal Labor Markets ◽  
Job Seekers ◽  
The Great Recession ◽  
Labor Market Intermediaries ◽  
Large Numbers

This book examines headhunting—contingency recruiting—in the wake of two profound changes in the labor market. The first is the emergence and explosive rise of various forms of social media, most prominently LinkedIn, which have made information about employers, jobs, and job-seekers much more widely available. The second is the unraveling of internal labor markets and the fraying of the ties between employers and employees, which started in the 1980s and 1990s, and accelerated in the wake of the bursting of the dotcom bubble and the Great Recession. Both changes created the possibility that employers and candidates would be able to find each other without the benefit of labor-market intermediaries like headhunters. The book explains why headhunting survived these changes: employers still need headhunters to find good candidates quickly. In a high-tech world, it is relatively easy to find large numbers of apparently qualified prospective candidates. Headhunters, however, determine which of these prospects are truly viable candidates and they invest time and effort in converting prospects into candidates. They bring high-touch search to a high-tech labor market.

scholarly journals Immigrants Equilibrate Local Labor Markets: Evidence from the Great Recession

2016 ◽  
Vol 8 (1) ◽  
pp. 257-290 ◽  
Author(s):  
Brian C. Cadena ◽  
Brian K. Kovak
Keyword(s):  
Labor Markets ◽  
Geographic Variation ◽  
Great Recession ◽  
Labor Demand ◽  
Employment Outcomes ◽  
Local Labor Markets ◽  
The Great Recession ◽  
Native Workers ◽  
Spatial Differences ◽  
Employment Probabilities

This paper demonstrates that low-skilled Mexican-born immigrants' location choices respond strongly to changes in local labor demand, which helps equalize spatial differences in employment outcomes for low-skilled native workers. We leverage the substantial geographic variation in labor demand during the Great Recession to identify migration responses to local shocks and find that low-skilled Mexican-born immigrants respond much more strongly than low-skilled natives. Further, Mexican mobility reduced the incidence of local demand shocks on natives, such that those living in metro areas with a substantial Mexican-born population experienced a roughly 50 percent weaker relationship between local shocks and local employment probabilities. (JEL E32, J15, J23, J24, J61, R23)

scholarly journals Measures, drivers and effects of green employment: evidence from US local labor markets, 2006–2014

2018 ◽  
Vol 19 (5) ◽  
pp. 1021-1048 ◽  
Author(s):  
Francesco Vona ◽  
Giovanni Marin ◽  
Davide Consoli
Keyword(s):  
Labor Markets ◽  
Great Recession ◽  
Descriptive Analysis ◽  
Wage Premium ◽  
Local Labor Markets ◽  
Crisis Period ◽  
Employment Dynamics ◽  
The Great Recession ◽  
Empirical Regularities ◽  
Task Content

Abstract This paper explores the nature and the key empirical regularities of green employment in US local labor markets in 2006–2014. The main methodological novelty consists of a new measure of green employment based on the task content of occupations. Descriptive analysis reveals that green employment is pro-cyclical, highly skilled, commands a 4% wage premium and is geographically concentrated. Green employment dynamics positively correlates with local green subsidies within the American Recovery and Reinvestment Act, local green knowledge, and resilience to the great recession. Finally, we find that one additional green job is associated with 4.2 (2.2 in the crisis period) new local jobs in non-tradable non-green activities.

scholarly journals Universal resilience patterns in labor markets

2021 ◽  
Vol 12 (1) ◽  
Author(s):  
Esteban Moro ◽  
Morgan R. Frank ◽  
Alex Pentland ◽  
Alex Rutherford ◽  
Manuel Cebrian ◽  
...  
Keyword(s):  
Labor Market ◽  
Labor Markets ◽  
Great Recession ◽  
Urban Policy ◽  
Economic Resilience ◽  
The Great Recession ◽  
Us Economy ◽  
The Us ◽  
Skill Requirements ◽  
Us Cities

AbstractCities are the innovation centers of the US economy, but technological disruptions can exclude workers and inhibit a middle class. Therefore, urban policy must promote the jobs and skills that increase worker pay, create employment, and foster economic resilience. In this paper, we model labor market resilience with an ecologically-inspired job network constructed from the similarity of occupations’ skill requirements. This framework reveals that the economic resilience of cities is universally and uniquely determined by the connectivity within a city’s job network. US cities with greater job connectivity experienced lower unemployment during the Great Recession. Further, cities that increase their job connectivity see increasing wage bills, and workers of embedded occupations enjoy higher wages than their peers elsewhere. Finally, we show how job connectivity may clarify the augmenting and deleterious impact of automation in US cities. Policies that promote labor connectivity may grow labor markets and promote economic resilience.

scholarly journals Two-Tier Labor Markets in the Great Recession: France vs. Spain

2010 ◽  
Author(s):  
Samuel Bentolila ◽  
Pierre Cahuc ◽  
Juan Jose Dolado ◽  
Thomas Le Barbanchon
Keyword(s):  
Labor Markets ◽  
Great Recession ◽  
The Great Recession

scholarly journals This Time May Not Be That Different: Labor Markets, the Great Recession and the (Not So Great) Recovery

2011 ◽  
pp. 1-4
Author(s):  
Murat Tasci
Keyword(s):  
Labor Markets ◽  
Great Recession ◽  
Slow Growth ◽  
Jobless Recoveries ◽  
The Great Recession ◽  
Job Growth ◽  
The 1950S

The last three U.S. recessions have been followed by “jobless recoveries.” The lack of robust job growth once GDP starts to pick up has a lot people asking if labor markets have changed in some fundamental way. I look at employment and unemployment growth in every recession since the 1950s and find that the current levels of these indicators can be explained by the severity of the Great Recession and the slow growth of GDP in the recovery.

scholarly journals Moving to a Job: The Role of Home Equity, Debt, and Access to Credit

2017 ◽  
Vol 9 (2) ◽  
pp. 149-181 ◽  
Author(s):  
Yuliya Demyanyk ◽  
Dmytro Hryshko ◽  
María Jose Luengo-Prado ◽  
Bent E. Sørensen
Keyword(s):  
Labor Markets ◽  
Great Recession ◽  
The United States ◽  
Home Equity ◽  
Access To Credit ◽  
Individual Level ◽  
The Great Recession ◽  
Significant Barrier ◽  
Out Of Area

We use individual-level credit reports merged with loan-level mortgage data to estimate how home equity interacted with mobility in relatively weak and strong labor markets in the United States during the Great Recession. We construct a dynamic model of housing, consumption, employment, and relocation, which provides a structural interpretation of our empirical results and allows us to explore the role that foreclosure played in labor mobility. We find that negative home equity is not a significant barrier to job-related mobility because the benefits of accepting an out-of-area job outweigh the costs of moving. This pattern holds even if homeowners are not able to default on their mortgages. (JEL D14, G01, J61, R23, R31)

Adjustments in EU labor markets and the Euro area during the Great Recession: a foreword

2017 ◽  
Vol 38 (7) ◽  
pp. 910-912
Author(s):  
Martin Kahanec ◽  
Martin Suster ◽  
Klaus F. Zimmermann
Keyword(s):  
Labor Markets ◽  
Euro Area ◽  
Great Recession ◽  
The Great Recession
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