How the Pandemic Has Reshaped Economic Inclusion in the United States
A new Cleveland Fed Economic Commentary finds that the recovery from the pandemic has been swift for some demographic groups, while other groups are experiencing more persistent trends.
Researchers Mark Schweitzer and Emily Dohrman focus on movements in the employment-to-population ratio to assess the persistence of pandemic-induced shifts in the labor market of different demographic groups. They identify three broad shifts:
- Shift 1: Pandemic losses were larger for young workers, but the recovery has been strolngest for teenagers.
- Shift 2: The pandemic’s residual effects remain larger for Hispanic and Black workers.
- Shift 3: Women’s employment-to-population ratios fell broadly in the pandemic but have recovered well.
“The patterns we observe could change as the economy continues to open up and to adapt to changes made during the pandemic, but so far the pandemic’s effects on the labor market continue to be uneven,” Schweitzer and Dohrman say. “Importantly, in many cases the differences across groups are shrinking as the recovery has continued.”
Read the Economic Commentary.
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