Andrew Foote, Michel Grosz, Ann Stevens, 17 November 2015

In light of the Great Recession, we continue to learn new ways in which economic downturns directly affect the labour market. This column suggests that following an adverse demand shock, individuals exit local labour markets primarily through migration, but that has become less prominent in the Great Recession. Faced with declining economic prospects, workers are becoming more likely to stay put, without re-entering the labour market. 

Peter Auer, Raphael Auer, Simon Wehrmüller, 21 November 2008

What is causing the mass US layoffs, decreased demand or more expensive financing? This column presents new research showing that two-thirds of the variation in employment across companies is due to their varying dependence on credit. In short, cheap capital is important for employment.

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