Why Is the Job‑Finding Rate Still Low?
Fluctuations in unemployment are mostly driven by fluctuations in the job-finding prospects of unemployed workers—except at the onset of recessions, according to various research papers (see, for example, Shimer [2005, 2012] and Elsby, Hobijn, and Sahin [2010]).
A Mis‑Leading Labor Market Indicator
The unemployment rate is a popular measure of the condition of the labor market.
Skills Mismatch, Construction Workers, and the Labor Market
Recessions and recoveries typically have been times of substantial reallocation in the economy and the labor market, and the current cycle does not appear to be an exception.
Prospects for the U.S. Labor Market
The unemployment rate in the United States fell from 9.1 percent in the summer of 2011 to 8.3 percent in February.