University of Sydney Employed To Job Vacancy Ratio Graph Questions
University of Sydney Employed To Job Vacancy Ratio Graph Questions
answer：1. What is this graph telling you? 2. Can you explain what the two axis are measuring? 3. What is the story?
answer the questions briefly and detailed.
here are some info you can refer to：
How to measure job shortages/surpluses:
Measure job vacancies by occupational group using the Job Vacancies and Wage Survey.
• Problem: some jobs naturally have high turnover, so at any point in time there will be lots of open jobs. However, these will be filled quickly, so can this really be thought of as a surplus of jobs?
Ask about vacancies that have remained unfilled for a long period of time (the data uses more than 90 days.
• This gets rid of the problem of high versus low turnover jobs. However, this still does not give a clear picture of labour market tightness, since some occupations represent larger portions of the Canadian labour market than others. Solution…
Use employed-to-job-vacancy ratio.
• This allows us to control for occupations that would have a larger number of vacancies since they represent a larger proportion of the jobs in the Cdn economy. This requires us to use both the JVWS and the LFS.
Other indicators? Direction of wage change? If wages are rising, this could potentially be an indicator of job surpluses – employers can’t fill jobs, so they must bid up wages to find workers. Also unemployment rate, proportion of workers doing overtime hours and other indicators.
