Estimating U.S. Labour Flow Statistics
Data pull script for 'Uncertainty and Labor Market Fluctuations' by Jo and Lee (2019) , Federal Reserve Bank of Dallas Working Paper.
See data overview below for data used and how data are pulled for the exercise
Hidden Markov Model for transition probability estimation
Data
Description
Data Source
Relevant Literature
Unemployment by duration and by reason
Unemployment by duration (weeks) by reasons
BLS
-
Initial claims of unemployment insurance
Initial claims of unemployment insurance aggregated in national level
BLS/FRED
-
Employment: Part-time by reason
Part-timer employment statistics by reason (economic conditions)
BLS/FRED
-
Hours worked
Average hours worked for non-agricultural sector
BLS/FRED
-
Job finding statistics
Job finding and separation rate
CPS/JOLTS/FRED
Elsby et al. (2009)
Flow hazard rate
Flow of labor between different states
BLS/Elsby et al. (2009)
Elsby et al. (2009)
Transition probability
Probability of changing employment state/status
BLS/Borowczyk-Martins and Lalé (2019 , 2020 )
Borowczyk-Martins and Lalé (2019 , 2020 )
(a) Unemployment by duration and by reason
Data
Source
Data Pull Method
Aggregation
Unemployed less than 5 weeks
BLS/FRED
julia - FRED API
(level: UEMPLT5 / rate: LNS13008397)
Unemployed for 5 to 14 weeks
BLS/FRED
julia - FRED API
(level: UEMP5TO14 / rate: LNS13025701)
Unemployed for 15 weeks and over
BLS/FRED
julia - FRED API
(level: UEMP15OV / rate: U1RATE)
Average duration of unemployment
BLS/FRED
julia - FRED API
(level: UEMPMEAN)
For those with specific reasons, as a percent of total unemployed,
For those with unemployed less than 5 weeks, specifically,
(b) Initial claims of unemployment insurance
Data
Source
Data Pull Method
Aggregation
Job losers on layoff
BLS/FRED
julia - FRED API
(rate: ICSA)
(c) Employment: Part-time by reason
Part-time employment count in non-agricultural sector, for,
Data
Source
Data Pull Method
Aggregation
Economic reason
BLS/FRED
julia - FRED API
(level: LNS12032197)
Non-Economic reasons
BLS/FRED
julia - FRED API
(level: LNS12033182)
(d) Hours worked for part-time workers
For non-agricultural part-time workers,
Data
Source
Data Pull Method
Aggregation
Average hours worked
BLS
julia - BLS API
(level: LNU02033235)
(e) Job finding statistics
(g) Transition probability