Economic context

Quantifying the Costs of Rising Unemployment

Joe Peck November 20, 2023

Rising unemployment brings significant costs to workers, their families, social outcomes, and the economy at-large. The contemporary tight labor market provides a good opportunity for researchers to better understand the benefits of low unemployment and thus the risks of high unemployment. By understanding these dynamics, policymakers, practitioners, and employers can work to alleviate rising unemployment’s detrimental consequences.