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Employment Estimates in the Run-up to the 2001 Recession

Summary:
Figure 1: Nonfarm payroll employment, 000’s s.a., various vintages. NBER defined recession dates shaded gray. The latest vintage says March 2000 NFP employment growth (one year before the recession) was 467,000, and 4.6% m/m annualized (in log terms).

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Employment Estimates in the Run-up to the 2001 Recession
Figure 1: Nonfarm payroll employment, 000’s s.a., various vintages. NBER defined recession dates shaded gray.

The latest vintage says March 2000 NFP employment growth (one year before the recession) was 467,000, and 4.6% m/m annualized (in log terms).

Menzie Chinn
He is Professor of Public Affairs and Economics at the University of Wisconsin, Madison

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