Description

This note is a reference guide for the unemployment template, an econometric toolthat allows researchers to analyze and project labor market indicators for any countrywith sufficient data coverage. Section I explains the motivation behind designinga new surveillance tool to study labor markets, and summarizes the key featuresof the template. Section II details the data inputs needed and their sources. SectionIII describes the methods used to estimate the employment-growth elasticity, ameasure of the extent to which employment responds to output. Section IV outlinesthe medium-term outlook table and projection charts created by the template oncethe inputs are customized to generate an appropriate elasticity. Finally, Section Vpresents a discussion on how to interpret the results produced by the template, andof the issues that arise from projecting labor market indicators.

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