Abstract

http://ssrn.com/abstract=1152678
 
 

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Adjusted Estimates of Worker Flows and Job Openings in Jolts


Steven J. Davis


University of Chicago; National Bureau of Economic Research (NBER)

Jason Faberman


Federal Reserve Bank of Chicago; Bureau of Labor Statistics - Office of Employment and Unemployment Statistics

John Haltiwanger


University of Maryland - Department of Economics; National Bureau of Economic Research (NBER); Institute for the Study of Labor (IZA)

Ian Rucker


Bureau of Labor Statistics

June 2008

NBER Working Paper No. w14137

Abstract:     
We develop and implement a method to improve estimates of worker flows and job openings based on the Job Openings and Labor Turnover Survey (JOLTS). Our method involves reweighting the cross-sectional density of employment growth rates in JOLTS to match the corresponding density in the comprehensive Business Employment Dynamics (BED) data. To motivate our work, we compare JOLTS to other data sources and document large discrepancies with respect to aggregate employment growth, the magnitude of worker flows, and the cross-sectional density of establishment growth rates. We also discuss issues related to JOLTS sample design and nonresponse corrections. Our adjusted statistics for hires and separations exceed the published statistics by about one-third. The adjusted layoff rate is more than 60 percent greater than the published layoff rate. Time-series properties are also affected. For example, hires exhibit more volatility than separations in the published statistics, but the reverse holds in the adjusted statistics. The impact of our adjustment methodology on estimated job openings is more modest, raising the vacancy rate by about 8 percent.

Number of Pages in PDF File: 45

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Date posted: June 30, 2008  

Suggested Citation

Davis, Steven J. and Faberman, Jason and Haltiwanger, John and Rucker, Ian, Adjusted Estimates of Worker Flows and Job Openings in Jolts (June 2008). NBER Working Paper No. w14137. Available at SSRN: http://ssrn.com/abstract=1152678

Contact Information

Steven J. Davis (Contact Author)
University of Chicago ( email )
5807 S. Woodlawn Avenue
Chicago, IL 60637
United States
773-702-7312 (Phone)
773-702-0458 (Fax)
National Bureau of Economic Research (NBER)
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
R. Jason Faberman
Federal Reserve Bank of Chicago ( email )
230 South LaSalle Street
Chicago, IL 60604
United States
(312) 322-5274 (Phone)
(312) 322-2357 (Fax)
HOME PAGE: http://www.chicagofed.org/webpages/people/faberman_jason.cfm
Bureau of Labor Statistics - Office of Employment and Unemployment Statistics ( email )
2 Massachusetts Avenue, NE
Washington, DC 20212
United States
John C. Haltiwanger
University of Maryland - Department of Economics ( email )
College Park, MD 20742
United States
301-405-3504 (Phone)
301-405-3542 (Fax)
National Bureau of Economic Research (NBER) ( email )
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
Institute for the Study of Labor (IZA) ( email )
P.O. Box 7240
Bonn, D-53072
Germany
Ian Rucker
Bureau of Labor Statistics ( email )
2 Massachusetts Avenue, NE
Washington, DC 20212
United States
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References:  28
Citations:  10

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