Measuring labor market turbulence

Ellen Rissman

Economic Perspectives, 1997, vol. 21, issue May, 2-14

Abstract: Increased economic turbulence leads to increases in the full employment level of unemployment. This article proposes a measure of economic turbulence using data on employment shares across broad industry categories. The effect of the business cycle on employment shares has been removed to allow for a measure of turbulence that reflects only idiosyncratic shocks to the various sectors.

Keywords: Labor market; Unemployment (search for similar items in EconPapers)
Date: 1997
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