Economics, Econometrics and Finance
4 years ago

Study reveals long-term unemployment drives volatility in job market.

Accounting for Unemployment : The Long and Short of It, Working Paper 12-07
Andreas Hornstein

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The study looked at why unemployment rates change over time. They found that most of the changes in unemployment are due to how quickly people find jobs after being unemployed. The study also showed that long-term unemployment plays a bigger role in unemployment changes than short-term unemployment. This means that when people are out of work for a long time, it has a bigger impact on overall unemployment rates.