Recessions lead to short-term job loss, lower levels of happiness and decreasing income levels. There is growing … disturbing long-run effect of recessions: young people who leave school in the midst of recessions are significantly more likely …

In recessions, unemployment increases despite the - perhaps counterintuitive - fact that the number of unemployed … excess earnings losses from job displacement and from graduating during recessions, and the insensitivity of unemployment to … workers finding jobs expands. On net, unemployment rises only because even more workers lose their jobs. We propose a theory …

unemployment rate at labor market entry for each birth cohort and state-of-birth cell based on average state migration rates and …

increase in economic policy uncertainty on unemployment in recessions and expansions. We find the response of unemployment to … be statistically and economically larger in recessions. A state-contingent forecast error variance decomposition analysis … confirms that the contribution of EPU shocks to the volatility of unemployment at business cycle frequencies is markedly larger …