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Vol. 21, No. 3
Last Updated: 04/16/1997

Measuring labor market turbulence

Ellen Rissman

Increased economic turbulence leads to increases in the full unemployment. This article proposes a measure of economic turbulence using data on employment share across broad industry categories. The effect of the business cycle on employment shares has been removed to allow for a measure of turbulence that reflects only idiosyncratic shocks to the various sectors.