Layoff Produce Less Unemployment than you might think: New JOLTS Data


The effect or lack of effect of layoffs is fascinating.

Calculated Risk has an updated JOLTS chart.

While JOLTS is a young data set there are already a few lessons in how we think about the economy.

  1. Contrary to conventional,, wisdom layoffs actually do not seem to be a prime mover in recessions.
  2. Going along with that turnover actually seems to fall during recessions and quite a bit
  3. The prime movers seem to be job openings and quits. A recession is a period where few people are hiring and few people are quitting.
  4. There may be an extensive literature on this already, but how, why and under what conditions people quit their jobs seems to be a very important question.

Filed under: Economics

New JOLTS Data
Karl Smith
Wed, 13 Apr 2011 17:24:07 GMT

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