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Adjusted Estimates of Worker Flows and Job Openings in JOLTS

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  • Economics

Abstract

Labor in the New Economy This PDF is a selection from a published volume from the National Bureau of Economic Research Volume Title: Labor in the New Economy Volume Author/Editor: Katharine G. Abraham, James R. Spletzer, and Michael Harper, editors Volume Publisher: University of Chicago Press Volume ISBN: 978-0-226-00143-2; 0-226-00143-1 Volume URL: http://www.nber.org/books/abra08-1 Conference Date: November 16-17, 2007 Publication Date: October 2010 Chapter Title: Adjusted Estimates of Worker Flows and Job Openings in JOLTS Chapter Author: Steven J. Davis, R. Jason Faberman, John C. Haltiwanger, Ian Rucker Chapter URL: http://www.nber.org/chapters/c10820 Chapter pages in book: (187 - 216) 187 5 Adjusted Estimates of Worker Flows and Job Openings in JOLTS Steven J. Davis, R. Jason Faberman, John C. Haltiwanger, and Ian Rucker 5.1 Introduction The Job Openings and Labor Turnover Survey (JOLTS) is an innovative data program that delivers national, regional, and industry estimates for the monthly fl ow of hires and separations and for the stock of unfi lled job open- ings. Analysts have seized on JOLTS data as a valuable source of insights about U.S. labor markets and an important new research tool for evaluating theories of labor market behavior. Recent studies draw on JOLTS data to investigate the cyclical behavior of hires and separations (Hall 2005); the Beveridge curve relation between unemployment and job vacancies (Valetta 2005; Fujita and Ramey 2007; Shimer 2007a); the connection between quits and employer recruiting behavior (Faberman and Nagypál 2007); and the relationship among vacancies, hires and employment growth at the establish- ment level (Davis, Faberman, and Haltiwanger 2006, 2009). Given the key roles played by job vacancies and worker fl ows in prominent search- based Steven J. Davis is the William H. Abbott Professor of International Business and Econom- ics at the Booth School of Business, University of Chicago, a

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