Measuring Swiss Employment Growth: A Measurement-Error Approach

Yannic Stucki ()
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Yannic Stucki: Swiss National Bank: Schweizerische Nationalbank

Journal of Business Cycle Research, 2024, vol. 20, issue 3, No 5, 443-473

Abstract: Abstract The two main employment statistics from the Swiss Federal Statistical Office often show different dynamics on a quarter-by-quarter basis. Applying optimal signal-extraction techniques, this paper constructs a new measure of Swiss employment growth that provides a unified picture of historical employment dynamics. Consistent with the statistical properties of unemployment — the natural counterpart of employment for which a full census is available — the new measure exhibits lower volatility and higher persistence than implied by each of the two statistics separately, and it also displays a higher correlation with unemployment.

Keywords: Employment; Signal extraction; State-space model; Dynamic-factor model; Switzerland (search for similar items in EconPapers)
JEL-codes: E24 E32 (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s41549-024-00104-9

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