Read Unedited Transcript · Download Slides

Using data from ADP, one of the world’s largest human resources management companies, Booth Professor Erik Hurst and his co-authors measure changes in the US labor market during the early stages of this “Pandemic Recession.” They find that US private sector employment contracted by about 21% between mid-February and late-April 2020, with workers in the bottom quintile of the wage distribution experiencing a 30% employment decline through May, and those in the top quintile only a 5% decline. The authors also reveal that businesses have cut nominal wages for about 10 percent of continuing employees, about twice the rate during the Great Recession, while forgoing regularly scheduled wage increases for others.

Professor Hurst discussed his findings and what we can expect to learn when the Bureau of Labor Statistics releases its monthly employment report on July 2. Following his presentation, Hurst engaged in a moderated discussion and took audience questions. Karen Anderson, Senior Director of Policy & Communications for the Becker Friedman Institute, moderated the discussion.


Related Economic Findings

The Pandemic Recession’s Disproportionate Effect on Wage Earners

Related Podcast Episodes

Episode 5: Jobs Lost and the Childcare Conundrum

Episode 11: The Lopsided Recession

Agenda

Wednesday, July 1, 2020
11:30:00–11:35:00

Welcome and Introductions

11:35:00–11:55:00

The US Labor Market During the Beginning of the Pandemic Recession

11:55:00–12:15:00

Moderated Discussion

12:15:00–12:30:00

Audience Q&A

More on this topic

Event·Jun 10, 2020, 11:30 AM·Virtual Seminar

Lunch and Learn Discussion Series: The Economic Policy Response to COVID-19

Topics: COVID-19, Employment & Wages
Event·Jul 29, 2020, 6:00 PM

Summer of Social Impact: Chicago Economics Research and Impact During the COVID-19 Pandemic

Topics: COVID-19, Employment & Wages
Event·Aug 7, 2020, 8:30 AM·Virtual Seminar

COVID-19 and Economics: China, Asia and Beyond

Topics: COVID-19