San Francisco Fed research explores evolution of job-matching efficiency
As people out of the labour force are included, the volatility of the job-to-job transition rate falls, economists find
The slow rate of job creation in the US after the great recession suggests the job-matching process may have deteriorated. But new research shows that when people not officially in the labour force are taken into account, and not just those classed as unemployed, the decline is similar to other recessions.
The standard job-matching measures account for only the unemployed, and not those who are out of the conventional labour force. But How much has job matching efficiency declined? by Andreas
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