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How Do Business Cycles Affect Worker Groups Differently?

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Abstract

Racial disparities in socioeconomic outcomes for the U.S. population are often masked by aggregate statistics. Unemployment rates vary significantly across groups according to gender and race or ethnicity and have different sensitivities to the business cycle. Focusing on jobless rates by demographic groups shows that Black and Hispanic workers, particularly men, are the most sensitive to periods of economic growth and decline. This higher sensitivity persists across individuals with the same education level. Occupation plays a role in explaining the relative cyclical differences in unemployment rates across demographic groups.

Suggested Citation

  • Evgeniya A. Duzhak, 2021. "How Do Business Cycles Affect Worker Groups Differently?," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, vol. 2021(25), pages 01-06, September.
    • Handle: RePEc:fip:fedfel:93020
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    Cited by:

    1. Mary C. Daly, 2022. "The Singularity of the Dual Mandate," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, vol. 2022(27), pages 1-8, October.
    2. Mary C. Daly, 2022. "Steering Toward Sustainable Growth," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, vol. 2022(10), pages 1-6, April.
    3. Bennani, Hamza, 2023. "Effect of monetary policy shocks on the racial unemployment rates in the US," Economic Systems, Elsevier, vol. 47(1).
    4. Gomez-Salvador, Ramon & Soudan, Michel, 2022. "The US labour market after the COVID-19 recession," Occasional Paper Series 298, European Central Bank.

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