Federal Reserve Bank of Cleveland.
Here is some recent work on the U.S. labor markets:
Displaced Workers and the Great Recession
In a recent Economic Trends post, we review the evidence on the employment outcomes of the displaced workers over the last full cycle; 2005-2011 using the publicly available data from the last three waves of the Displaced Workers Survey (DWS). Reemployment rates somewhat recovered from pre-recession levels, except for those who lost jobs in Government or Finance, Insurance and Real Estate. Conditional on being reemployed, some workers suffered more than 20 percent wage losses after the Great recession and never recovered those losses, especially those displaced from jobs in Government and Construction. To read more about this check out the recent Economic Trends post here.
Beyond the Unemployment Rate: Long-Term Unemployment
The long-term unemployment surged to unprecedented levels during the recession and has not receded yet. We look at the long-term unemployment in this post. Probability of reemployment and leaving the labor-force for the long-term unemployed might explain some of the persistence in the unemployment rate. To read more about this check out the recent Economic Trends post here.