Document Type

Working Paper

Publication Date

Fall 9-1-2012

JEL Codes

E24, E32, J21, J24, J64

Working Paper Number

2011-04

Abstract

This paper employs reduced-form microeconometric analysis to examine how yearly changes in aggregate income and GDP growth affect the unemployment probability of individuals with varied skills in the United States. The paper goes beyond traditional education-based measures and assesses how manual, communication, and quantitative skills affect the relationship between macroeconomic shocks and unemployment. Workers specialized in communication skills exhibit lower unemployment rates, reduced unemployment volatility, and less sensitivity to macroeconomic fluctuations.

Included in

Economics Commons

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