Haltiwanger-Abraham paper puts jobless rate measure in question
Job-to-job transfers have significant impact on labor market tightness measure
A paper by Faculty Associates John Haltiwanger and Katharine Abraham contributed to an important discussion at an early June meeting of the Chicago Fed. Bloomberg News wrote it was "what may well be the monetary-policy event of the year."
Their paper, "How Tight is the Labor Market," was part of the first session of the Fed conference and contributed to a discussion of measures that need review in order to get an accurate assessment of fundamental indicators.
This paper was also cited in a Financial Times article, "Fed considers redefining maximum employment," on June 7, 2019.
This paper was also cited extensively in a Wall Street Journal article on July 14, 2019
See the Financial Times article