Journal Article
Measuring labor market turbulence
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.
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Bibliographic Information
Provider: Federal Reserve Bank of Chicago
Part of Series: Economic Perspectives
Publication Date: 1997
Volume: 21
Issue: May
Pages: 2-14