The Flow Approach to Labor Markets: New Data Sources and Micro-Macro LinksSteven Davis, Jason Faberman, and John C. Haltiwanger ,
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Journal of Economic Perspectives
New data sources and products developed by the Bureau of Labor Statistics and the Bureau of the Census highlight the fluid character of U.S. labor markets. Private sector job creation and destruction rates average nearly 8 percent of employment per quarter. Worker flows in the form of hires and separations are more than twice as large. The data also underscores the lumpy nature of micro-level employment adjustments.