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Labor-force participation rates and the informational value of unemployment rates: Evidence from disaggregated US data
Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Economics.
2012 (English)In: Economics Letters, ISSN 0165-1765, Vol. 116, no 3, 408-410 p.Article in journal (Refereed) Published
Abstract [en]

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. (C) 2012 Elsevier B.V. All rights reserved.

Place, publisher, year, edition, pages
2012. Vol. 116, no 3, 408-410 p.
Keyword [en]
Unit-root test, Labor force participation, Unemployment dynamics
National Category
URN: urn:nbn:se:uu:diva-183767DOI: 10.1016/j.econlet.2012.04.020ISI: 000308449600039OAI: oai:DiVA.org:uu-183767DiVA: diva2:564597
Available from: 2012-11-02 Created: 2012-11-01 Last updated: 2013-07-22

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