Which Industries are shifting the Beveridge Curve?

Régis Barnichon, Michael Elsby, Bart Hobijn and Aysegul Sahin

No 11-157/3, Tinbergen Institute Discussion Papers from Tinbergen Institute

Abstract: The negative relationship between the unemployment rate and the job openings rate, known as the Beveridge curve, has been relatively stable in the U.S. over the last decade. Since the summer of 2009, in spite of firms reporting more job openings, the U.S. unemployment rate has not declined in line with the Beveridge curve. We decompose the recent deviation from the Beveridge curve into different parts using data from the Job Openings and Labor Turnover Survey (JOLTS). We find that most of the current deviation from the Beveridge curve can be attributed to a shortfall in hires per vacancy. This shortfall is broad-based across all industries and is particularly pronounced in construction, transportation, trade, and utilities, and leisure and hospitality. Construction alone accounts for more than half of the Beveridge curve gap.

Keywords: Beveridge Curve; job openings; measurement; search frictions (search for similar items in EconPapers)
JEL-codes: J23 J60 J63 (search for similar items in EconPapers)
Date: 2011-11-07
References: Add references at CitEc
Citations: View citations in EconPapers (14)

Downloads: (external link)
https://papers.tinbergen.nl/11157.pdf (application/pdf)

Related works:
Working Paper: Which industries are shifting the Beveridge curve? (2010)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:tin:wpaper:20110157

Access Statistics for this paper

More papers in Tinbergen Institute Discussion Papers from Tinbergen Institute Contact information at EDIRC.
Bibliographic data for series maintained by Tinbergen Office +31 (0)10-4088900 ().