Labor-force participation rates and the informational value of unemployment rates: Evidence from disaggregated US data

The informational value of the aggregate US unemployment rate has recently been questioned because of a unit root in the labor-force participation rate; the lack of mean reversion implies that long-run changes in unemployment rates are highly unlikely to reflect long-run changes in joblessness. This note shows that this critique also extends to unemployment rates for sub-populations, such as prime-aged males.

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Year of publication:	2012
Authors:	Gustavsson, Magnus ; Österholm, Pär
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 116.2012, 3, p. 408-410
Publisher:	Elsevier
Subject:	Unit-root test \| Labor force participation \| Unemployment dynamics

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Type of publication:	Article
Classification:	C22 - Time-Series Models ; E24 - Employment; Unemployment; Wages ; J21 - Labor Force and Employment, Size, and Structure
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011041784