Abstract
As OECD country economies have developed stronger service economies, the level of employment fluctuations in business cycles has been reduced. The Great Recession precipitated strong downturns in service employment across OECD countries, although this percentage reduction was smaller than experienced within the manufacturing sector. Within the United States, states with very strong growth rates in real estate before the Great Recession were particularly hard hit in downturns in manufacturing, construction, and types of service employment linked to real estate investment. This chapter argues models of the investment cycle must include explicit links to producer services linked to the investment process.
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Beyers, W.B. (2013). Service Employment and Unemployment in the Great Recession: Trends in OECD Countries and U.S. States. In: Cuadrado-Roura, J. (eds) Service Industries and Regions. Advances in Spatial Science. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-35801-2_10
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DOI: https://doi.org/10.1007/978-3-642-35801-2_10
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