Chapter

What Can We Learn About Firm Recruitment from the Job Openings and Labor Turnover Survey?

Éva Nagypál

in Producer Dynamics

Published by University of Chicago Press

Published in print March 2009 | ISBN: 9780226172569
Published online February 2013 | e-ISBN: 9780226172576 | DOI: http://dx.doi.org/10.7208/chicago/9780226172576.003.0004
What Can We Learn About Firm Recruitment from the Job Openings and Labor Turnover Survey?

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This chapter describes some methodological and conceptual issues that arise when using the Job Openings and Labor Turnover Survey (JOLTS) data. It uses the publicly available JOLTS data to empirically explore the widely used theoretical construct of the matching function. The data shows that the mismeasurement of labor turnover in the JOLTS is a larger problem than at first appears from the aggregate data. The understatement of the separation rate is a key reason that the JOLTS data overstate employment growth in the U.S. economy. The chapter then evaluates the influence of the employment growth discrepancy between the JOLTS and the Center for Economic Studies on the measurement of labor turnover. There is variation in the process of matching across industries due to the different characteristics of jobs and workers in these industries. Also, it is possible that the measurement issues discussed systematically affect the measurement of vacancies and hires across industries.

Keywords: labor turnover; Job Openings and Labor Turnover Survey; matching function; employment growth; U.S. economy; Center for Economic Studies; vacancies; hires

Chapter.  4913 words.  Illustrated.

Subjects: Microeconomics

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