Abstract
We use data from the Current Population Survey from 2007 and 2013 to investigate demographic differentials in unemployment during the Great Recession in the U.S. Although our analysis is primarily exploratory and descriptive, our major research objective is to illuminate the unemployment differential between the foreign born and the native born. The findings indicate that during the height of the Great Recession, the foreign born had higher unemployment rates than the native born. However, this differential is statistically explained by their observed characteristics, such as race/ethnicity, gender, age and education. With the net of those variables and a few other demographic covariates, foreign born workers as an overall group actually had somewhat lower chances of being unemployed than native born workers. This finding is discussed in terms of the selectivity of immigrant workers and the possibility that they are somewhat more immediately dependent on having a job. After breaking down the foreign born into major racial/ethnic groups, the results suggest that foreign-born blacks and foreign-born Hispanics are particularly selective with the net of their observed characteristics. The possible sources of such differentials by race/ethnicity and by gender are discussed.
Highlights
The last recessionary period in the U.S began at the end of 2007 and lasted for several years.Its magnitude was quite large by U.S standards
We report unemployment rates based on our own calculations using the individual-level Current Population Survey (CPS) data
Our results indicate that unemployment rates increased for all demographic groups during the Great Recession, at its height in 2009 and 2010
Summary
The last recessionary period in the U.S began at the end of 2007 and lasted for several years.Its magnitude was quite large by U.S standards. The last recessionary period in the U.S began at the end of 2007 and lasted for several years. Known as the Great Recession, it began with the mortgage lending market and the financial crisis associated with the bursting of the housing bubble. It quickly led to additional financial turmoil in the U.S and spread to other parts of the world. The Great Recession ended up being the worst economic crisis in the U.S since the Great Depression [1]. The Great Recession began impacting the U.S labor market in 2008. Unemployment rose to levels not seen since the 1930s. The unemployment duration reached a historic peak. According to the Bureau of Labor Statistics, the annual unemployment rate jumped to 9.3% in 2009 and 9.8% in
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