Labor market flows in the cross section and over time |
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| Authors: | Steven J Davis R Jason Faberman John Haltiwanger |
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| Institution: | 1. University of Chicago, Booth School of Business and NBER, 5807 South Woodlawn Avenue, Chicago, IL 60637, United States;2. Federal Reserve Bank of Chicago, 230 South LaSalle Street, Chicago, IL 60604, United States;3. University of Maryland and NBER, Department of Economics, University of Maryland, College Park, MD 20742, United States |
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| Abstract: | Many theoretical models of labor market search imply a tight link between worker flows (hires and separations) and job gains and losses at the employer level. We use rich establishment-level data to assess several theoretical models and to study the relationship between worker flows and jobs flows. Hires, quits, and layoffs exhibit strong, highly nonlinear relationships to employer growth rates in the cross section. Simple statistical models of these relationships greatly improve our ability to account for fluctuations in aggregate worker flows and enable us to construct synthetic measures of hires, separations, quits, and layoffs back to 1990. |
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