Measuring Swiss employment growth: a measurement-error approach
Employment, signal extraction, state-space model, dynamic-factor model, Switzerland
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.