A New Claims-Based Unemployment Dataset: Application to Postwar Recoveries Across U.S. States
IMF Working Papers, June 10, 2022
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- A New Claims-Based Unemployment Dataset: Application to Postwar Recoveries Across U.S. States
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Bibliographic details
- Authors: Andrew Fieldhouse, Sean Howard, Christoffer Koch, David Munro
- Published: June 10, 2022
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9798400212604.001
Dataset construction and scope
- Constructed a historical monthly unemployment series for U.S. states going back to January 1947 using newly digitized unemployment insurance claims data.
- Series intended to capture consistent patterns in the business cycle at the state level.
Validation and comparison
- The constructed series are highly correlated with the Bureau of Labor Statics' state-level unemployment data, which are only available from January 1976 onwards.
Main empirical findings
- Faster recoveries are associated with greater heterogeneity in the recovery rate of unemployment across states.
- Slower recoveries tend to be more uniformly paced across states.
- The pace of unemployment recoveries is strongly correlated with a state's manufacturing share of output.
Subject areas and keywords
- Subject: Business cycles, Economic growth, Economic recession, Labor, Labor markets, Unemployment, Unemployment rate
- Keywords: Business cycles, Economic recession, Economic Recoveries, Labor markets, recession date, Regional Business Cycles, State-Level Unemployment Rates, Unemployment, unemployment dataset, Unemployment Insurance, Unemployment rate, unemployment rate series, unemployment recovery, unemployment series
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- Working Paper