An Analysis of Recession-Affected Labor and Education Constructs in the Midwestern United States (2005-2011)
Washburn University. School of Business
Kaw Valley Bank
The "Great Recession" that began in 2007 has proven to be the worst economic downturn since the Great Depression. The continued slow economic recovery and subsequent long-term unemployed has led to changes in the make-up of the workforce. In this paper, labor and education data are analyzed to understand if the effects of the recession led to an increase in levels of human capital through educational attainment. The analysis also seeks to investigate if there has been a shift from manufacturing to services during the period, a shift from public to private sector employment and what occupations are growing and decreasing. Data from the Bureau of Labor Statistics is used to investigate these issues for the Midwestern region of the United States from 2005-2011. The analysis found that there has indeed been an increase in educational attainment, a decrease in public sector employment, less manufacturing jobs and occupational trends towards service-related industries, especially in healthcare.