However, these surveys reveal only the net gains or losses in employment over a given period. Consequently, how many gross hires and separations lie behind the net changes is missing from these statistical releases. Data on gross flows turn up additional valuable information. In this article, Shigeru Fujita uses such data to examine cyclical changes in the pace of the worker reallocation process and its effects on the U.S. labor market.

This article appeared in the Second Quarter 2007 edition of Business Review.

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