How Much Has Job Matching Efficiency Declined?

Andreas Hornstein and Marianna Kudlyak
Authors registered in the RePEc Author Service: Glenn Rudebusch and Jens Henrik Eggert Christensen

FRBSF Economic Letter, 2017

Abstract: During the recession and recovery, hiring has been slower than might be expected considering the large numbers of vacant jobs and unemployed individuals. This raises some concern about structural changes in the process of matching job seekers with employers. However, the standard measures account for only the unemployed and not those who are out of the labor force. Including other non-employed groups in the measured pool of job seekers while adjusting for different job finding rates among these groups shows that the decline in matching efficiency is similar to earlier declines.

Date: 2017
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