Another indicator of labor market tightness

Reference no: EM133640728

Question

Another indicator of labor market tightness is the ratio of unemployed to job openings. Please download the series for unemployed [UNEMPLOY] and job openings [JTSJOL]. Plot the ratio of unemployed to job openings together with the unemployment rate. Comment on the co-movement of the two series. Is the ratio of unemployed to job openings redundant, or it provides additional information? Many observers have argued that the measures of slack we looked at so far should be considered against the backdrop of the labor force participation rate. Everything else equal, it is often argued, the lower the labor force participation rate, the larger the slack. Do you agree?

Reference no: EM133640728

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