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Federal Reserve Bank of Chicago
Economic Perspectives
Measuring labor market turbulence
Ellen R. Rissman
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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Ellen R. Rissman, "Measuring labor market turbulence" , Federal Reserve Bank of Chicago, Economic Perspectives, issue May, pages 2-14, 1997.
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Keywords: Labor market ; Unemployment
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