The Labor Market in the Great Recession

Michael W. Elsby, Bart Hobijn, Aysegul Sahin

NBER Working Paper No. 15979
Issued in May 2010

---- Acknowledgements -----

The views expressed in this paper solely reflect those of the authors and not necessarily those of the Federal Reserve Bank of New York, Federal Reserve Bank of San Francisco, nor those of the Federal Reserve System as a whole, nor of the National Bureau of Economic Research. We are especially grateful to Bruce Fallick, Larry Katz, Ryan Michaels, David Romer, Rob Shimer, Gary Solon, and Justin Wolfers for particularly detailed comments and suggestions. Thanks also to Mary Daly, Steve Davis, Hank Farber, Bob Hall, John Haltiwanger, Marianna Kudlyak, Simon Potter, and Jon Willis for constructive comments. We would like to thank Regis Barnichon for providing us with the Composite Help-Wanted Index, and Joyce Kwok, Joseph Song, and Theodore Wiles for their outstanding research assistance. This version is based on data through April 7th 2010.

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