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Socio-economic transitions on the labour market : a European benchmarking exercise

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  • Y. Saks

    (National Bank of Belgium)

Abstract

The dynamics of the unemployment rate can be seen as the outcome of movements in the inflow into unemployment (i.e. the job separation rate) and movements of the outflow from unemployment (i.e. the job-finding rate). The article describes those rates during the period 1998-2014 for seven countries (Belgium, Denmark, France, Germany, Spain, Sweden and United Kingdom), estimated on the basis of the harmonised labour force surveys. In all those countries, the job separation rate largely explains the variability of the unemployment rate. The job-finding rate also contributes to that variability, but is not the driving force except in France and Spain. The multivariate analysis reveals that education and age are important determinants, apart from the business cycle. The job-finding rate appears to be very low in Belgium compared to the other examined countries, although that is due in part to a statistical phenomenon

Suggested Citation

  • Y. Saks, 2016. "Socio-economic transitions on the labour market : a European benchmarking exercise," Economic Review, National Bank of Belgium, issue iii, pages 41-58, December.
    • Handle: RePEc:nbb:ecrart:y:2016:m:december:i:iii:p:41-58
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    More about this item

    Keywords

    labour markets dynamics; job separation rate; outflow rate to employment; harmonised European microdata;
    All these keywords.

    JEL classification:

    • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
    • J60 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - General
    • J82 - Labor and Demographic Economics - - Labor Standards - - - Labor Force Composition
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity

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