We compile a novel high-frequency, detailed geographic dataset on mass layoffs from U.S. state labor departments. Using recent advances in difference-in-difference estimation with staggered treatment, we find that locally-mandated stay-at-home orders issued March 16–22, 2020 triggered mass layoffs equal to half a percent of the population in just one week. Our findings contribute to explanations for why job loss in 2020 was synchronous and catastrophic, yet temporary.
Suggested citation:
Kudlyak, Marianna, and Erin L. Wolcott. 2024. “Pandemic Layoffs and the Role of Stay-At-Home Orders.” Federal Reserve Bank of San Francisco Working Paper 2024-20. https://doi.org/10.24148/wp2024-20
About the Authors
Marianna Kudlyak is a research advisor in the Economic Research Department of the Federal Reserve Bank of San Francisco. Learn more about Marianna Kudlyak
Erin L. Wolcott, Middlebury College