Munich Personal RePEc Archive

How Bad is US Unemployment?

Freeman, Alan and Desai, Radhika (2009): How Bad is US Unemployment?

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This article assesses the significance of the January 2009 US unemployment figures. The steep fall of 4 million jobs is greater than any 12-month fall in history.

Does this mean that 2007-2008 heralds the worst recession since 1929? This article assesses the empirical evidence of the US payroll figures to date.

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