Crump, Richard K.; Eusepi, Stefano; Giannoni, Marc Paolo; … - National Bureau of Economic Research - 2022
We estimate the natural rate of unemployment, often referred to as u*, in the United States using data on labor market …-2021 period. The natural rate of unemployment was at around 4.5% before the onset of the pandemic and increased to 5.9% by the end …. Despite the rise in the natural rate of unemployment, the secular trend of unemployment continued to fall and stands at around …