Determinants of Unemployment: An Analysis of US States from 2002 to 2020
Poster Number
3
Session Title
Poster Session 1
College
College of Business Administration
Department
Accounting, Finance & Economics
Abstract
This paper examines the determinants of unemployment in the United States by using a panel data set from the 50 U.S. states between the years 2002 to 2020. The main variables considered are population, union membership, education, personal income, GDP, and political party control of state legislatures. This paper uses a pooled OLS regression, a fixed-effects regression, a random-effects regression, and a logistic regression to examine the effects of these variables on unemployment. The main finding was that the determinant of GDP was the main indicator of the unemployment rate, with the variables being negatively correlated. This paper also finds that having split legislatures is linked to lower probabilities of high unemployment, using the logistic regression model.
Start Date
15-4-2022 12:00 PM
Determinants of Unemployment: An Analysis of US States from 2002 to 2020
This paper examines the determinants of unemployment in the United States by using a panel data set from the 50 U.S. states between the years 2002 to 2020. The main variables considered are population, union membership, education, personal income, GDP, and political party control of state legislatures. This paper uses a pooled OLS regression, a fixed-effects regression, a random-effects regression, and a logistic regression to examine the effects of these variables on unemployment. The main finding was that the determinant of GDP was the main indicator of the unemployment rate, with the variables being negatively correlated. This paper also finds that having split legislatures is linked to lower probabilities of high unemployment, using the logistic regression model.
