Measuring Swiss employment growth: a measurement-error approach
Dr. Yannic Stucki
Issue
2022-11
Pages
29
JEL classification
E24,
E32
Keywords
Employment,
signal extraction,
state-space model,
dynamic-factor model,
Switzerland
Year
2022
The two main employment statistics from the Swiss Federal Statistical Office often show different dynamics on a quarter-by-quarter basis. Applying optimal signal-extraction techniques, this paper constructs a new measure of Swiss employment growth that provides a unified picture of historical employment dynamics. The new measure exhibits higher persistence and stronger co-movement with unemployment than when the underlying employment series are considered separately.