Working Paper Series in Economics and Institutions of Innovation,
Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies

Abstract: The economic crisis contributed to sharp increases in U.S. unemployment rates for all three of the major socio-economic classes. Results from regression models using individual-level data from the 2006-2011 U.S. Current Population Surveys indicate that members of the Creative Class had a lower probability of being unemployed over this period than individuals in the Service and Working Classes, and that the impact of having a creative occupation became more beneficial in the two years following the recession. These patterns, if they continue, are suggestive of a structural change occurring in the U.S. economy—one that favors knowledge-based creative activities.

Keywords: Economic Crisis; Great Recession; Creative Class; Service Class; Working Class; Unemployment

JEL-codes: J24; J60; R00

44 pages, April 12, 2012

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