Abo-Zaid, Salem (2012): Net job creation in the U.S. economy: lessons from monthly data, 1950-2011.
Download (578Kb) | Preview
In this paper, I study the monthly net job creation (NJC) at the aggregate level in the U.S. over the period 1950-2011. The paper has few important findings. First, NJC did not show a significant trend over the last 6 decades, which resulted in a fall in the NJC rate. Second, NJC is very volatile and it may change course even in the span of one month. Third, there is no clear pattern about the co-movement between NJC and the change in the unemployment rate in the U.S. Fourth, the average of total NJC and private NJC since late 2010 are significantly higher than their respective historical averages and the volatility in NJC since the end of the Great Recession is not unusual by historical standards. Fifth, the size of NJC in the first decade of the 21st century has been the lowest along the entire sample. Finally, the most frequent drop in the unemployment rate is by 0.1 percent, and drops of more than 0.2 percent should not be highly expected.
|Item Type:||MPRA Paper|
|Original Title:||Net job creation in the U.S. economy: lessons from monthly data, 1950-2011|
|English Title:||Net Job Creation in the U.S. Economy: Lessons from Monthly Data, 1950-2011|
|Keywords:||U.S. Net Job Creation; U.S. Unemployment Rate; U.S. Labor Force; The Great Recession|
|Subjects:||E - Macroeconomics and Monetary Economics > E2 - Macroeconomics: Consumption, Saving, Production, Employment, and Investment > E24 - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital
J - Labor and Demographic Economics > J6 - Mobility, Unemployment, and Vacancies > J60 - General
J - Labor and Demographic Economics > J2 - Demand and Supply of Labor > J21 - Labor Force and Employment, Size, and Structure
|Depositing User:||Salem Abo-Zaid|
|Date Deposited:||28. May 2012 23:32|
|Last Modified:||12. Feb 2013 20:33|
Basker E. 2005. “Job Creation or Destruction? Labor-Market Effects of Wal-Mart Expansion.” Review of Economics and Statistics, Vol. 87, pp. 174-183.
Davis S., Faberman J. and Haltiwanger J. C. 2006. “The Flow Approach to Labor Markets: New Data Sources and Micro–Macro Links.” Journal of Economic Perspectives, Vol. 20, pp. 3-26.
Davis S. and Haltiwanger J. C. 1992. “Gross Job Creation, Gross Job Destruction, and Employment Reallocation.” Quarterly Journal of Economics, Vol. 107, pp. 819-863.
Davis S., Haltiwanger J. C. and Schuh S. 1996. “Job Creation and Destruction.” MIT Press, Cambridge, Massachusetts.
Haltiwanger J. C., Scarpetta S. and Schwegier H. 2008. “Assessing Job Flows Across Countries: The Role of Industry, Firm Size and Regulations.” NBER Working Paper 13920.
Haltiwanger J. C., Jarmin R. S. and Miranda J. 2010. “Who Creates Jobs? Small vs. Large vs. Young.” NBER Working Paper 16300.
Hijzen A., Upward R. and Wright P. 2010. “Job Creation, Job Destruction and the Role of Small Firms: Firm-Level Evidence for the UK.” Oxford Bulletin of Economics and Statistics, Vol. 72, pp. 621-647.
Ibsen R. and Westergaard-Nielsen N. 2011. “Job Creation by Firms in Denmark.” IZA Discussion Paper No. 5458.
Mortensen D. T. and Pissarides C. A. 1994. “Job Creation and Job Destruction in the Theory of Unemployment.” Review of Economic Studies, Vol. 61, pp. 397-415.
Moscarini G. and Postel-Vinay F. “The Contribution of Large and Small Employers to JobCreation in Times of High and Low Unemployment.” American Economic Review, forthcoming.
NBER. 2010. “The June 2009 Trough was Announced September 20, 2010.” Cambridge, MA.
Pissarides C. A. 2000. “Equilibrium Unemployment Theory.” 2nd, edition, MIT Press, Cambridge, Massachusetts.
Saks R. 2008. “Job Creation and Housing Construction: Constraints on Metropolitan Area Employment Growth.” Journal of Urban Economics, Vol. 64, pp. 178-195.
Available Versions of this Item
- Net job creation in the U.S. economy: lessons from monthly data, 1950-2011. (deposited 28. May 2012 23:32) [Currently Displayed]