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Job Market Overview  Alternative measures of the job market together provide different insights into the job market  Sources of Data:  Establishment.

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Presentation on theme: "Job Market Overview  Alternative measures of the job market together provide different insights into the job market  Sources of Data:  Establishment."— Presentation transcript:

1

2 Job Market

3 Overview  Alternative measures of the job market together provide different insights into the job market  Sources of Data:  Establishment Survey: nonfarm payrolls, etc.  Household Survey: unemployment rate, etc.  Understand the behavior of the job market during previous recessions and recoveries

4 Unemployment and Inflation  NAIRU (aka natural rate)  Includes frictional and structural unemployment (not due to recessions)  Provides a benchmark for the job market  Unemployment differing from NAIRU affects compensation, thus affecting cost pressures that impact inflation

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