Labor market indicator for Colombia

Artikel

Although the unemployment rate is traditionally used to diagnose the current state of the labor market, this indicator does not reflect the existence of asymmetries, mobility costs, and rigidities which impede labor to freely flow over the business cycle. Thus, to get a better portrait of the momentum, we construct the Labor Market Indicator (LMI) focusing on the cyclical similarities of eighteen time series from the Colombian household, industrial, and opinion surveys between 2001 and 2019. Our indicator summarizes the growth cycle of the labor market and its evolution is closely related to the output and unemployment GAP. This indicator is useful for policy analysis as it is useful to forecast headline inflation, it also complements the diagnosis of the current momentum of the labor market, the general economic activity, and the characterization of economic phases and turning points.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Journal: Latin American Economic Review ; ISSN: 2196-436X ; Volume: 30 ; Year: 2021 ; Issue: 1 ; Pages: 1-32 ; Ciudad de México: Centro de Investigación y Docencia Económica (CIDE)

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity ; General Outlook and Conditions ; Demand and Supply of Labor: General
• Thema: LMI ; Colombian labor market ; dynamic factor model ; unemployment rate

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Cristiano-Botia, Deicy J. ; Hernandez-Bejarano, Manuel Dario ; Ramos-Veloza, Mario A.
• Ereignis: Veröffentlichung
• (wer): Centro de Investigación y Docencia Económica (CIDE)
• (wo): Ciudad de México
• (wann): 2021

Weitere Informationen

• DOI: doi:10.47872/laer-2021-30-4
• Handle: http://hdl.handle.net/10419/259463
• Letzte Aktualisierung: 10.03.2025, 11:42 MEZ