What Do Worker Flows Tell Us About Cyclical Fluctuations in Employment ?
نویسندگان
چکیده
The number of jobs added or lost in the U.S. economy every month is one of the most eagerly awaited statistics among policymakers and market participants. For example, we may recall the recent episode of a “jobless recovery,” in which even though the recession was officially over in the fourth quarter of 2001, the apparent weakness of the labor market continued into 2002 and 2003. During that period, newspapers and magazines thoroughly scrutinized the job numbers from the Bureau of Labor Statis-
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