The deep recession that began in December 2007 and ended in June 2009, has had a lasting effect on the labor market …. More than four and a half years after the end of the recession, employment has risen sluggishly--much more slowly than it … grew, on average, during the four previous recoveries that lasted more than one year. At the same time, the unemployment …

This paper provides revealed-preference estimates of the monetary value of avoiding job search in a high-unemployment … home-state unemployment rate. Comparing these estimates to realized losses in post-service civilian earnings resulting from … exiting the military during times of high unemployment suggests that mitigating factors (e.g., leisure, private and public …