Job-Finding Anomalies of the Current Expansion

Chen, Ingrid; Kudlyak, Marianna; Mikhlin, Riva

Journal Article

Job-Finding Anomalies of the Current Expansion

Abstract: Job-finding rates have declined over the past three years for people who are unemployed or are out of the labor force. Analysis shows that the decline in job finding for unemployed people has been pronounced for prime-age and college-educated individuals, while the decline in job finding for people who are out of the labor force has been driven by younger and less-educated individuals. These demographic patterns differ from job-finding rates during typical economic expansions and imply both a cooling and a restructuring within the labor market.