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Constructing the job‐finding rate and separation rate of Hong Kong labour market

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  • Bin Wang
  • Yum K. Kwan

Abstract

This paper constructs two essential time series of the aggregate labour market in Hong Kong: the job‐finding rate and the separation rate. The average job‐finding rate per month is 27.54% while the average separation rate per month is 1.29%. These numbers are similar to those for Nordic and Anglo‐Saxon countries. Variance decomposition shows that the separation rate contributes to more than half the variation of the unemployment rate.

Suggested Citation

  • Bin Wang & Yum K. Kwan, 2021. "Constructing the job‐finding rate and separation rate of Hong Kong labour market," Pacific Economic Review, Wiley Blackwell, vol. 26(3), pages 303-311, August.
    • Handle: RePEc:bla:pacecr:v:26:y:2021:i:3:p:303-311
    DOI: 10.1111/1468-0106.12333
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    References listed on IDEAS

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    1. Chung Yi Tse & Charles Ka Yui Leung & Weslie Yuk Fai Chan, 2002. "Unemployment and vacancy in the Hong Kong labour market," Applied Economics Letters, Taylor & Francis Journals, vol. 9(4), pages 221-229.
    2. Hobijn, Bart & Sahin, Aysegül, 2009. "Job-finding and separation rates in the OECD," Economics Letters, Elsevier, vol. 104(3), pages 107-111, September.
    3. Lin, Ching-Yang & Miyamoto, Hiroaki, 2014. "An estimated search and matching model of the Japanese labor market," Journal of the Japanese and International Economies, Elsevier, vol. 32(C), pages 86-104.
    4. Hairault, Jean-Olivier & Le Barbanchon, Thomas & Sopraseuth, Thepthida, 2015. "The cyclicality of the separation and job finding rates in France," European Economic Review, Elsevier, vol. 76(C), pages 60-84.
    5. Robert Shimer, 2005. "The Cyclical Behavior of Equilibrium Unemployment and Vacancies," American Economic Review, American Economic Association, vol. 95(1), pages 25-49, March.
    6. Michael W. L. Elsby & Bart Hobijn & Ayşegül Şahin, 2013. "Unemployment Dynamics in the OECD," The Review of Economics and Statistics, MIT Press, vol. 95(2), pages 530-548, May.
    7. Robert Shimer, 2012. "Reassessing the Ins and Outs of Unemployment," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 15(2), pages 127-148, April.
    8. Thomas A. Lubik, 2012. "Aggregate Labour Market Dynamics In Hong Kong," Pacific Economic Review, Wiley Blackwell, vol. 17(2), pages 257-279, May.
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