IDEAS home Printed from https://ideas.repec.org/a/fip/fedreb/93901.html
   My bibliography  Save this article

The Pandemic's Impact on Unemployment and Labor Force Participation Trends

Author

Listed:
  • Andreas Hornstein
  • Marianna Kudlyak

Abstract

Following early 2020 responses to the pandemic, labor force participation declined dramatically and has remained below its 2019 level, whereas the unemployment rate recovered briskly. We estimate the trend of labor force participation and unemployment and find a substantial impact of the pandemic on estimates of trend. It turns out that levels of labor force participation and unemployment in 2021 were approaching their estimated trends. A return to 2019 levels would then represent a tight labor market, especially relative to long-run demographic trends that suggest further declines in the participation rate.

Suggested Citation

  • Andreas Hornstein & Marianna Kudlyak, 2022. "The Pandemic's Impact on Unemployment and Labor Force Participation Trends," Richmond Fed Economic Brief, Federal Reserve Bank of Richmond, vol. 22(12), April.
    • Handle: RePEc:fip:fedreb:93901
    as

    Download full text from publisher

    File URL: https://www.richmondfed.org/publications/research/economic_brief/2022/eb_22-12
    File Function: Article
    Download Restriction: no
    ---><---

    Other versions of this item:

    More about this item

    Keywords

    labor force; unemployment;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fedreb:93901. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Christian Pascasio (email available below). General contact details of provider: https://edirc.repec.org/data/frbrius.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.