There has been considerable debate over how much a role structural unemployment plays in the persistently high unemployment rates seen in much of the world since the 2007-09 global recession. Narayana Kocherlakota, then president of the Federal Reserve Bank of Minneapolis, said in a 2010 speech that as much as 3 percent of the 9.5 percent unemployment rate at the time could be the result of a mismatch. Other studies argued that a skills mismatch was a minor factor, since unemployment rose for nearly all industries and demographic groups during the "Great Recession." A Federal Reserve Bank of New York study found no strong evidence of mismatch for construction workers, a group often alleged to be prone to structural unemployment because of the regional nature of construction.