Measuring the Total Number of US Job Seekers
Bibliographic Data
| ID | 9703703 |
|---|---|
| Authors | Christine Braun (0000-0002-8639-5546, University of Warwick, corresponding author) |
| Year | 2024 |
| Volume | 134 |
| Issue | 664 |
| Pages | 3173-3201 |
| Publication date | 2024-11-06 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Economic Journal (JOURNAL) |
| Journal identifiers | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Publisher | Oxford University Press (PUBLISHER • GB) |
| DOI | 10.1093/ej/ueae057 |
| OpenAlex | W4402161812 |
| Language | EN |
| References cited | 35 |
I document a substantial rise in the proportion of job seekers who are classified as out of the labour force in the United States since 1980. I propose an adjusted unemployment rate to account for these searchers; the adjustment increases the unemployment rate by 5.2 percentage points, rids the unemployment rate of its downward trend and decreases volatility by 50%. I also construct a measure of total search effort in the economy, including employed job seekers. Finally, estimates of the Phillips curve using the adjusted unemployment rate or total searcher rate show no sign of a flattening output-inflation relationship in the post-2008 recession period
Demographic economics · Econometrics · Economics · Flattening · Inflation (cosmology · Inflation rate · Interest rate · Keynesian economics · Labour economics · Macroeconomics · Monetary economics · Phillips curve · Political science · Recession · Seekers · Sign (mathematics · Unemployment · Unemployment rate · Volatility (finance · Economic Theory and Policy · Employment and Welfare Studies · Labor market dynamics and wage inequality · Mathematics
| Highly cited | No |
|---|