Bureau of Labor Statistics
NBER Working Papers and Publications
|October 2010||Adjusted Estimates of Worker Flows and Job Openings in JOLTS|
with Steven J. Davis, R. Jason Faberman, John C. Haltiwanger
in Labor in the New Economy, Katharine G. Abraham, James R. Spletzer, and Michael Harper, editors
|June 2008||Adjusted Estimates of Worker Flows and Job Openings in JOLTS|
with Steven J. Davis, R. Jason Faberman, John C. Haltiwanger: w14137
We develop and implement a method to improve estimates of worker flows and job openings based on the Job Openings and Labor Turnover Survey (JOLTS). Our method involves reweighting the cross-sectional density of employment growth rates in JOLTS to match the corresponding density in the comprehensive Business Employment Dynamics (BED) data. To motivate our work, we compare JOLTS to other data sources and document large discrepancies with respect to aggregate employment growth, the magnitude of worker flows, and the cross-sectional density of establishment growth rates. We also discuss issues related to JOLTS sample design and nonresponse corrections. Our adjusted statistics for hires and separations exceed the published statistics by about one-third. The adjusted layoff rate is more than...