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Federal Reserve Bank of Kansas City
Research Working Paper
Job Polarization and the Natural Rate of Unemployment in the United States
Didem Tuzemen
Abstract

I present a new estimate of the natural rate of unemployment in the United States that accounts for changes in the age, sex, and skill composition of the labor force. Using micro-level data from the Current Population Survey for the period 1994-2017, I find that the natural rate of unemployment declined by 0.5 percentage point since 1994 and currently stands at 4.5 percent. My projections show that ongoing demographic and technological changes could lower the trend rate further to 4.4 percent by the end of 2022.


Download https://doi.org/10.18651/RWP2018-03
Cite this item
Didem Tuzemen, Job Polarization and the Natural Rate of Unemployment in the United States, Federal Reserve Bank of Kansas City, Research Working Paper RWP 18-3, 15 Mar 2018.
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JEL Classification:
Subject headings:
Keywords: Natural Rate of Unemployment; Job Polarization; Labor Demand; Skills; Aging
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