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Measuring Swiss Employment Growth: A Measurement-Error Approach

Author

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  • Yannic Stucki

    (Swiss National Bank: Schweizerische Nationalbank)

Abstract

The two main employment statistics from the Swiss Federal Statistical Office often show different dynamics on a quarter-by-quarter basis. Applying optimal signal-extraction techniques, this paper constructs a new measure of Swiss employment growth that provides a unified picture of historical employment dynamics. Consistent with the statistical properties of unemployment — the natural counterpart of employment for which a full census is available — the new measure exhibits lower volatility and higher persistence than implied by each of the two statistics separately, and it also displays a higher correlation with unemployment.

Suggested Citation

  • Yannic Stucki, 2024. "Measuring Swiss Employment Growth: A Measurement-Error Approach," Journal of Business Cycle Research, Springer;Centre for International Research on Economic Tendency Surveys (CIRET), vol. 20(3), pages 443-473, November.
    • Handle: RePEc:spr:jbuscr:v:20:y:2024:i:3:d:10.1007_s41549-024-00104-9
    DOI: 10.1007/s41549-024-00104-9
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    More about this item

    Keywords

    Employment; Signal extraction; State-space model; Dynamic-factor model; Switzerland;
    All these keywords.

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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