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How much lockdown policies contribute to local unemployment? Evidence from the first and second waves of COVID-19

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Abstract

Did people reduce their social interactions as a result of the pandemic, restrictive lockdown policies, or both? What was the impact of reduced social interactions on local employment? Importantly, why did unemployment spike during the first wave of the pandemic, but gradually decline thereafter, even though the outbreak was much more severe during the second wave? In this note, we attempt to answer these questions by exploiting newly available data on hours worked among small firms at the industry-county-state-week level.

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  • Marcus Dockerty & Antonis Kotidis & Ilknur Zer, 2021. "How much lockdown policies contribute to local unemployment? Evidence from the first and second waves of COVID-19," FEDS Notes 2021-05-24-1, Board of Governors of the Federal Reserve System (U.S.).
    • Handle: RePEc:fip:fedgfn:2021-05-24-1
    DOI: 10.17016/2380-7172.2903
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    File URL: https://www.federalreserve.gov//econres/notes/feds-notes/how-much-lockdown-policies-contribute-to-local-unemployment-20210524.htm
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    Cited by:

    1. Kalewold Hailu Kalewold, 2023. "Lockdowns and the ethics of intergenerational compensation," Politics, Philosophy & Economics, , vol. 22(3), pages 271-289, August.
    2. Harley Frazis, 2022. "Sources of Increases in Time Alone during the COVID Pandemic: Evidence from the American Time Use Survey," Economic Working Papers 559, Bureau of Labor Statistics.

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