{
  "title": "Divergence in Post-Pandemic Earnings Growth: Evidence from Micro Data",
  "publication": "IMF Working Papers, October 11, 2024",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2024/10/11/divergence-in-post-pandemic-earnings-growth-evidence-from-micro-data-556261",
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  "summary": "We use a comprehensive employer-employee dataset to examine post-pandemic worker earnings in the US. Our findings reveal that earnings grew faster in counties that were less severely impacted at the onset of the pandemic.",
  "sections": [
    {
      "heading": "Key findings",
      "content": "- Earnings grew faster in counties that were less severely impacted at the onset of the pandemic.\n- The divergence in earnings growth was substantial and persistent.\n- Divergence was particularly pronounced for:\n  - lower-paid workers,\n  - nonmanagerial workers,\n  - workers in smaller firms.\n- Both wage increases and additional hours contributed to the observed earnings growth.\n- Evidence is consistent with a job-ladder framework:\n  - labor market competition drives dispersion of earnings across counties,\n  - labor markets that are strong compress earnings among workers within those counties.\n- Findings provide a microfoundation for the wage Phillips curve and have direct implications for stabilization policies."
    },
    {
      "heading": "Data and scope",
      "content": "- Uses a comprehensive employer-employee dataset to examine post-pandemic worker earnings in the US.\n- Subject areas: Labor, Labor force, Labor markets, Unemployment, Wages.\n- Keywords include: Earnings, Earnings growth, employer-employee dataset, Global, IMF working paper No. 2024/222, Labor force, labor market competition, Labor Market Conditions, Labor markets, micro data, North America, Pandemic, Unemployment, Wage, Wages.\n\n---\n\n Content in this bundle\n\n- Working Paper\n  - Working Paper (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Working Paper (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2024/10/11/divergence-in-post-pandemic-earnings-growth-evidence-from-micro-data-556261"
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    "Authors: Sophia Chen, Do Lee",
    "Published: October 11, 2024",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9798400291814.001",
    "Earnings grew faster in counties that were less severely impacted at the onset of the pandemic.",
    "The divergence in earnings growth was substantial and persistent.",
    "Divergence was particularly pronounced for:",
    "Both wage increases and additional hours contributed to the observed earnings growth.",
    "Evidence is consistent with a job-ladder framework:",
    "Findings provide a microfoundation for the wage Phillips curve and have direct implications for stabilization policies.",
    "Uses a comprehensive employer-employee dataset to examine post-pandemic worker earnings in the US.",
    "Subject areas: Labor, Labor force, Labor markets, Unemployment, Wages.",
    "Keywords include: Earnings, Earnings growth, employer-employee dataset, Global, IMF working paper No. 2024/222, Labor force, labor market competition, Labor Market Conditions, Labor markets, micro data, North America, Pandemic, Unemployment, Wage, Wages.",
    "**Working Paper**"
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