Full Citation

Title: The New Hires Quality Index: A Wage Metric for Newly Hired Workers

Citation Type: Miscellaneous

Publication Year: 2017

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Abstract: There is substantial interest in measuring not just the quantity of new jobs but the quality as well. Existing surveys by the Bureau of Labor Statistics describe the number of new jobs created each month, as well as wages of incumbent workers, but not wages (or other characteristics) of newly created jobs. This paper aims to fill that gap by describing the creation of a new job quality metric for newly hired workers. Drawing on publicly accessible data from the Current Population Survey and Occupational Employment Statistics, I construct a job quality index of new hires based on occupation, which is more closely tied to skill demand and wages than measures based on industry. The New Hires Quality Index accounts for changing demographics of hires, can be consistently constructed from 2001 forward overall and for subgroups, does not rely on selfreported wages, and can be updated monthly. It also permits decompositions to illustrate which groups are affecting changes in the index. It should serve as a valuable new tool in gauging realized labor demand.

Url: http://research.upjohn.org/cgi/viewcontent.cgi?article=1231&context=reports

User Submitted?: No

Authors: Hershbein, Brad, J

Publisher: W.E. Upjohn Institute for Employment Research

Data Collections: IPUMS CPS

Topics: Labor Force and Occupational Structure, Methodology and Data Collection

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