Employment rates in Puerto Rico range from 55 to 65 percent of U.S. rates during the past thirty years. This huge employment shortfall holds for men and women, cuts across all education groups, and is deeper for persons without a college degree. The shortfall is concentrated in the private...

We rely on a decomposition of employment changes into job creation and job destruction components - and a novel set of identifying restrictions that this decomposition permits - to develop new evidence about the driving forces behind aggregate fluctuations and the channels through which they...