Questions tagged [unemployment]

Unemployment is the condition of one who is capable of working, actively seeking work, but unable to find any work.

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59 views

Estimating Job Vacancy rate empirically

I'm currently reading up on matching models in terms of their ability to describe frictional unemployment, they generally follow a cobb-douglas form. $$M(u,v)=m=\mu u^\alpha v^{1-\alpha}$$ Where $M(...
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Are there any net benefits in reducing/increasing tourist-oriented retail business?

Hong Kong is currently experiencing a slump in foreign tourist-oriented retail sales. Shops selling jewellery, watches, infant formula or Chinese medicine experienced a 25-35% decline YoY in August. ...
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11 views

Unemployment with Insiders-Outsiders. What is a core employee?

In Dynamic Macroeconomics book, by Alogoskoufis, on chapter 17, he analyses a model of aggregate fluctuations that is based on periodic nominal wage contracts and can explain involuntary unemployment (...
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37 views

Are there any estimates for what percentage of the jobs lost this spring are "permanent" at least for the rest of the year?

In a "view from the helicopter" video by The Economist on the aftereffects of Covid-19, one of the editors says that it's very unlikely we'll see a return to normal this year e.g. in the restaurant ...
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58 views

Is America economy, Connecitcut's economy, and the global in general recovering and better than the year 2008?

Please answer all three if you can. I live in Connecticut, America, and of course global trade and economies matter as we are becoming more global from technology. December 2007 the markets ...
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38 views

Imputing # of unemployed from Labor Force Survey

I am working on state-level data, where one state has recently stopped publishing the absolute figures for the number of the unemployed. Instead, it currently only releases U and LFP rates. ...
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29 views

Inverting the production function - Okun's Law: Fit at 50? (BALL; LEIGH; LOUNGANI, 2012)

Consider the following equations: $$ \tag{1} E_t - E_t^* = \gamma \cdot (Y_t - Y_t^*) + \eta_t, \gamma > 0, $$ $$ \tag{2} U_t - U_t^* = \delta \cdot (E_t - E_t^*) + \mu_t, \delta < 0 $$ where $...
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17 views

Are there any measures of U-6 Unemployment that take into account ageing out of the work force explicitly?

Labor Force Participation has been steadily decreasing over the last 20 years or so. The Fed says that this has been the case mostly due to the demographic shifts, and to an extent the data backs that ...
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22 views

Explaining negative "cyclic" unemployment with a production function

First of all, here is a related post. Unfortunately, it does not answer my question. I have heard that there is an understanding of negative unemployment in economic theory. Obviously, absolute ...
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1answer
50 views

What measure of unemployment is used by central banks to find out whether the rate of unemployment is below the natural rate of unemployment?

Having an unemployment rate below the natural rate of unemployment (NRU) leads to wage inflation and a reduction in productivity. Seeing the consequences of that, and knowing that one of the roles of ...
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19 views

Modelling the effect of crisis on unemployment

We want to estimate the effect of crises on a country's unemployment rate and distinguish the strength of this effect according to the debt level in a country (i.e. via the interaction effect crisis x ...
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48 views

How can I obtain monthly unemployment by ethnicity by state for the US?

Grateful for any help, thoughts and direction.
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Have any economics papers used unified cure models?

Does anyone know if there are unified cure models (aka split population models) in time-until-employment studies that combine the mixture cure approach with the promotion time approach as described in ...
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72 views

What are some common causes of jobless growth?

While "jobless recovery" is often discussed in the aftermath of recessions in Western countries, it seems it's always a short-lived phenomenon. On the other hand, it looks like in other parts of the ...
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227 views

How is there full employment level at equilibrium level according to Keynesian theory(AD-AS approach)?

According to Keynesian theory :- Equilibrium level is the point at which Aggregate Demand curve intersects Aggregate Supply curve . And this point is termed as Full Employment Level How do we ...
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1answer
135 views

How is employment related to aggregate demand and aggregate supply?

When we talk about excess or deficient aggregate demand , how does employment suddenly comes ?
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1answer
43 views

US unemployment data release date

Using the CSV file provided by St. Louis Fed (which is based on the data series LNS14000000 from the Bureau of Labor Statistics) I noticed that the date is always the first day of each month for the ...
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44 views

Why is Canada's unemployment rate higher than that of the US, UK, Germany and the Netherlands?

Current unemployment rate in Canada is about 5.8% while countries such as the US, UK, Germany and the Netherlands have unemployment rates well below 5%. In addition, the current unemployment rate in ...
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98 views

Why does a reduction in regional differences in unemployment shift the Phillips curve?

According to this question below, apparently a reduction in the regional differences in the level of unemployment would shift the short run Phillips curve SRPC leftwards. The answer to the question is ...
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35 views

How much does one percent of unemployment 'cost'? (Unemployment elasticity)

There is always debate that increasing minimum salary will pour in more money into the budget as those who get minimum salary will spend them immediately. The counter argument is that increasing ...
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71 views

Understanding the complex relationship between macro and micro economic factor: Job shift

As the world knows plenty of manufacturing jobs shifted from various countries to China. This macroeconomic trend of consolidating manufacturing jobs in China has been going on for past 30 years. ...
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22 views

Decentralization of business due to internet/mass communication, or mere bosses-at-a-distance?

Excuse my question if it sounds brutish and uneducated but I'm curious about the recent trend of businesses like Uber, Google Play Store, Apple Store, possibly even Craigslist (et al) which are more ...
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25 views

Will interest rates still hike even after a weak jobs report?

Has this happened before in the past? A weak jobs report and a hesitant economy followed by a federal rate hike to control inflation? Thank you to all.
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32 views

How can I find state-level data on the unemployment rate of youth for 2014 and 2015?

I have found state-level, monthly unemployment data for 2014/2015, and I have found national monthly youth unemployment data for 2014/2015. However, I need all four together; State-level, monthly ...
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1answer
51 views

Is there a change over the business cycle in how much of economic activity is market-based?

Out of the total production in an economy, a big part is market-based, as when you make something and sell it. But a big part is not, as when you make something and don't sell it, but exchange it or ...
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11 views

What are the different use cases in economics for the different definitions of unemployment published by the Bureau of Labor Statistics?

The BLS releases the unemployment rate in the United States once every month. This unemployment rate (officially U-3) is defined as the total unemployed as a percentage of the the total civilian work ...
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23 views

Economic Achilles' heels of global financial economy

The latest attacks on oil production in Saudi-Arabia highlights the need for risk managers to follow up on possible terrorist targets that can have a global impact on the global financial economy, ...
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26 views

Beveridge Curve: Add a Variable for Young Share

A beveridge curve show the relationship between unemployment and vacancy. Some papers add additional variables like Real GDP, real interest rate, etc to test for the matching efficiency of the BC. ...
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1answer
219 views

Okun's law nominal GDP growth

Does Okun's law also work for nominal (not real) GDP growth?