Measuring Growth of Labor Quality and the Quality-Adjusted Unemployment Rate in Switzerland

Thomas Bolli and Mathias Zurlinden

Applied Economics Quarterly (formerly: Konjunkturpolitik), 2009, vol. 55, issue 2, 121-145

Abstract: This paper presents results on human capital accumulation for the Swiss economy. We find that the index of labor quality has grown at a rate of 0.5% per year from 1991 to 2006. The main sources are the growth in average levels of education and the passing of the baby boom cohort through the age structure of the workforce. Projections over the period 2006-2050 suggest that labor quality growth will slow down with time. We also calculate a quality-adjusted unemployment rate and find that the unemployment rate is reduced by about 0.3 pp when human capital accumulation is taken into account.

Keywords: human capital; labor quality; unemployment rate (search for similar items in EconPapers)
JEL-codes: E24 J24 J31 (search for similar items in EconPapers)
Date: 2009
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Working Paper: Measuring growth of labour quality and the quality-adjusted unemployment rate in Switzerland (2008)
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