Federal Reserve of Boston finds unemployment worse than in Great Recession

New research from the Federal Reserve Bank compares pandemic-era initial and continued unemployment claims for the U.S. and New England with those from the Great Recession. The authors find that the level of initial claims in the pandemic had exceeded those in the entire 79-week-long Great Recession in just 12 weeks (that is, by May 30) nationally, and in just 10 weeks in New England. Levels of continuing unemployment insurance claims are three to four times larger than in the Great Recession in New England. The research also found that women, younger workers, and those in personal care or food service occupations were more likely to file ongoing claims. #covid-19 #workforce