The study looked at how economic ups and downs affect the jobs, pay, and income of different groups of people. They used data from surveys covering 1975 to 1997 to see how things like education, race, and gender play a role. The results showed that during tough times, less educated people, nonwhites, and low-skilled women have bigger changes in their work and pay compared to high-skilled men. However, government help and family earnings can lessen these differences. The study found that the effects of economic cycles on different groups were more similar in the 1992 recession compared to earlier ones.