Download or read book Are Labor Market Indicators Telling the Truth Role of Measurement Error in the U S Current Population Survey written by Mr.Ippei Shibata and published by International Monetary Fund. This book was released on 2019-02-26 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Labor market indicators are critical for policymakers, but measurement error in labor force survey data is known to be substantial. In this paper, I quantify the implications of classification errors in the U.S. Current Population Survey (CPS), in which respondents misreport their true labor force status. Once I correct for measurement error using a latent variable approach, the unemployment rate is on average 0.8 percentage points (ppts) higher than the official unemployment rate, with a maximum of 2.0 ppts higher between 1996 and 2018. This paper further quantifies the contributions to business-cycle fluctuations in the unemployment rate from job separation, job finding, and participation. Correcting for misclassification changes previous studies' results about the contributions of these transition probabilities: job separation accounts for more of the unemployment fluctuations, while participation accounts for fewer. The methodology I propose can be applied to any other labor force survey in which labor force status is observed for three periods.
Download or read book Are Labor Market Indicatos Telling the Truth written by Ippei Shibata and published by . This book was released on 2019 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: Labor market indicators are critical for policymakers, but measurement error in labor force survey data is known to be substantial. In this paper, I quantify the implications of classification errors in the U.S. Current Population Survey (CPS), in which respondents misreport their true labor force status. Once I correct for measurement error using a latent variable approach, the unemployment rate is on average 0.8 percentage points (ppts) higher than the official unemployment rate, with a maximum of 2.0 ppts higher between 1996 and 2018. This paper further quantifies the contributions to businesscycle fluctuations in the unemployment rate from job separation, job finding, and participation. Correcting for misclassification changes previous studies' results about the contributions of these transition probabilities: job separation accounts for more of the unemployment fluctuations, while participation accounts for fewer. The methodology I propose can be applied to any other labor force survey in which labor force status is observed for three periods.
Download or read book Measuring Underemployment written by Clifford C. Clogg and published by Academic Press. This book was released on 2013-10-22 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: Measuring Underemployment: Demographic Indicators for the United States discusses the Labor Utilization Framework of Hauser and Sullivan, which is a measurement scheme that posits the existence of three dimensions, or forms, of underemployment— time, income, and skill-utilization. This book describes the conceptual groundwork, operational measurement, and implications of the Labor Utilization Framework on the way the labor force aggregates. The essential elements of the socio-demographic theory of the labor force with the logical unity provided by both the Labor Utilization Framework and the specific methodologies adopted for its analysis are also elaborated. This text likewise covers the methods for latent structure analysis and cohort analysis, including the theory of frictional underemployment; “class structure governing the distribution of labor market rewards; tempo of social change in the labor force; “productive value of a population; and “true dependency on productive labor. This publication is a good source for students and researchers concerned with different labor force topics that can be plausibly studied from the viewpoint of the Hauser-Sullivan framework.
Download or read book Current Labor Market Developments written by United States. Congress. Joint Economic Committee and published by . This book was released on 1972 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book How Tight are U S Labor Markets written by Alex Domash and published by . This book was released on 2022 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the outset of the Covid-19 pandemic, labor market indicators that traditionally move together have been sending different signals about the degree of slack in the U.S. labor market. While some indicators on the supply-side, such as the prime-age employment-to-population ratio, suggest that there is still some slack in the labor market, other indicators on the demand-side, such as the job vacancy rate and the quits rate, imply that the labor market is already very tight. In light of these divergent signals, this paper compares alternative labor market indicators as predictors of wage inflation. Using national time series and state cross-section data, we find (i) unemployment is a better predictor of wage inflation than non-employment and (ii) vacancy rates and quit rates have substantial predictive power for wage inflation. We highlight the fact that vacancy and quit rates currently experienced in the United States correspond to a degree of labor market tightness previously associated with sub-2 percent unemployment rates. Finally, we show that predicted firm-side unemployment has dominant explanatory power with respect to subsequent inflation. Our results, along with a cursory analysis of labor force participation information, suggest that labor market tightness is likely to contribute significantly to inflationary pressure in the United States for some time to come.
Download or read book Assessing the Change in Labor Market Conditions written by Federal Reserve Board and published by Createspace Independent Publishing Platform. This book was released on 2015-12-24 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book describes a dynamic factor model of 19 U.S. labor market indicators, covering the broad categories of unemployment and underemployment, employment, workweeks, wages, vacancies, hiring, layoffs, quits, and surveys of consumers' and businesses' perceptions. The resulting labor market conditions index (LMCI) is a useful tool for gauging the change in labor market conditions. In addition, the model provides a way to organize discussions of the signal value of different labor market indicators in situations when they might be sending diverse signals. The model takes the greatest signal from private payroll employment and the unemployment rate. Other influential indicators include the insured unemployment rate, consumers' perceptions of job availability, and help-wanted advertising. Through the lens of the LMCI, labor market conditions have improved at a moderate pace of over the past several years, albeit with some notable variation along the way. In addition, from the perspective of the model, the unemployment rate declined a bit faster over the past two years than was consistent with the other indicators.
Download or read book Public hearings before the National Commission on Employment and Unemployment Statistics written by United States. National Commission on Employment and Unemployment Statistics and published by . This book was released on 1978 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Returning to Full Employment written by Marc Labonte and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report analyzes recent trends in labor market indicators during the current economic recovery, with a particular focus on the contrast between the unemployment rate and other labor market indicators. It reviews studies seeking to determine how much of the decline in the labor force participation rate is caused by the recession and how much is caused by structural factors (such as the aging of the labor force). It then considers whether the economy might reach full employment at a higher rate of unemployment compared to recent expansions.
Download or read book On the Inaccuracies of Economic Observations written by Peter A.G. van Bergeijk and published by Edward Elgar Publishing. This book was released on 2024-06-05 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: This informative book reveals the pervasive nature of large inaccuracies in economic statistics. Drawing on numerous real-world examples including case studies from advanced and developing countries, Peter van Bergeijk presents profound insights into how downplaying these errors undermines the scientific rigour of economic analysis and outlines how to manage uncertainty in economic analysis moving forward.
Download or read book Monthly Labor Review written by and published by . This book was released on 1990-07 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: Publishes in-depth articles on labor subjects, current labor statistics, information about current labor contracts, and book reviews.
Download or read book Comparing Labor Market Indicators from the CPS and ACS written by Wayne Vroman and published by . This book was released on 2003 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Unemployment Insurance Statistics written by and published by . This book was released on 1979 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book How are Youth Faring in the Labor Market written by Jean Farès and published by . This book was released on 2006 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper uses a new standardized micro database for a large set of developing countries to (1) describe the patterns of labor market outcomes for youth, and (2) explain the contributions of supply and demand factors to youth outcomes. The paper shows that youth face various difficulties in transitioning to work. This is reflected in their relatively higher unemployment rate, higher incidence of low paying or unpaid work, and a large share of youth who are neither working nor in school. This is especially true for young girls who are found outside the labor market, some engaged in home production. Finally, the paper also finds that cross-country estimates show that changes in the youth relative cohort size is unlikely to have a large effect on how youth are faring in the labor market.
Download or read book Proceedings of Interstate Conference on Labor Statistics written by and published by . This book was released on 1962 with total page 880 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Classical Economics Today written by Marcella Corsi and published by Anthem Press. This book was released on 2018-01-22 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: “Classical Economics Today: Essays in Honor of Alessandro Roncaglia” comprises a collection of original essays by leading economists who adopt a Classical approach to political economy. The essays showcase the relevance and topicality of the Classical approach, as opposed to the sterility and real-world irrelevance of mainstream economics.
Download or read book Labor Market Indicators for Social Planning written by Robert Mier and published by . This book was released on 1984 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Assessing the Change in Labor Market Conditions written by Hess T. Chung and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The U.S. labor market is large and multifaceted. Often-cited indicators, such as the unemployment rate or payroll employment, measure a particular dimension of labor market activity, and it is not uncommon for different indicators to send conflicting signals about labor market conditions.
