The Great Recession had a devastating impact on labor force participation and employment. This impact was not unlike … unusual pattern of recovery in employment by race. The black employment–population ratio has increased since bottoming out in … 2010, while the white employment–population ratio has remained flat. This paper examines trends in labor force …

economy, in particular to business cycle moments for employment and informality. We show that interest rate shocks, which …, the presence of an informal sector might help to mitigate the impact of a stringent labor regulation on employment and …