US workers receive unemployment benefits if they lose their job, but not for reduced working hours. In alignment with the benefits incentives, we find that the labor market responded to COVID-19 and related closure-policies mostly on the extensive (12 pp outright job loss) margin. Exploiting timing variation in state closure-policies, difference-in-differences (DiD) estimates show, between March 12 and April 12, 2020, employment rate fell by 1.7 pp for every 10 extra days of state stay-at-home orders (SAH), with little effect on hours worked/earnings among those employed. Forty percentage of the unemployment was due to a nationwide shock, rest due to social-distancing policies, particularly among “non-essential” workers.

中文翻译：

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社会疏远政策对劳动力市场结果的影响

如果美国工人失业，他们将获得失业救济金，但不会因为工作时间减少而获得失业救济金。与福利激励措施相一致，我们发现劳动力市场对 COVID-19 和相关关闭政策的反应主要是大幅（直接失业 12 个百分点）。利用各州封锁政策的时间变化，双重差分 (DiD) 估计显示，2020 年 3 月 12 日至 4 月 12 日期间，各州居家令每增加 10 天，就业率就会下降 1.7 个百分点 (SAH) ），对受雇者的工作时间/收入影响不大。百分之四十的失业是由于全国性的冲击造成的，其余的则是由于社会疏远政策造成的，特别是“非必要”工人的失业。