Media Advisory
New York Fed Launches New Labor Market Measurement Tool
March 10, 2014

The Federal Reserve Bank of New York today launched an interactive graphic measuring eight aspects of the labor market. The information will be updated monthly and provide timely updates to help analyze national labor market conditions.  The information is mostly generated from the Current Population Survey (CPS), Current Employment Statistics (CES) and the Job Openings and Turnover Survey (JOLTS).

The categories include unemployment, employment, hours worked, labor demand, job availability, job loss rate wages and mismatch.

The mismatch section shows an index developed by Sahin, Song, Topa and Violante (2013) for industries and occupations. It provides a measure of imbalance between the characteristics of job openings and unemployed workers.

More detailed information is available in an accompanying Liberty Street Blog Post, “Beyond the Unemployment Rate: Eight Different Faces of the Labor Market.”

Media Contact:
Kevin Sajdak
(212) 720-6143
kevin.sajdak@ny.frb.org