Recession-proof businesses drive stronger labor market reactions in economic downturns.
The study looked at how wages and employment levels change during economic ups and downs. They found that different companies have different patterns in how wages change. By studying these differences, they were able to see how wages affect employment levels at each company. This information can help create better models of how the job market works. They also discovered that companies with stable or decreasing wages play a big role in how the job market reacts during recessions compared to booms.