14) We then perform a series of pairwise t-tests comparing the coefficient for the interaction term of full-time work (and similarly PTNER) to the coefficient for the interaction term of PTER with each of the seven occupational categories.
Figure 2 shows the population shares of full-time, PTNER, and PTER workers.
Figure 4 examines PTER by reason: slack work, could only find part-time work, and "other," which includes a job starting/ending during the reference week (such that hours add up to less than 35) and seasonal work.
Figure 5 shows the ratio of PTER workers to the number of unemployed workers in the economy.
THE TRANSITION PROBABILITIES OF PTER FLOWS DURING 2007-09 AND EFFECTS ON EMPLOYMENT, UNEMPLOYMENT, AND OLF
In this section, we focus on the transition probabilities to and from the stock of PTER and other states of the labor market.
As mentioned above, each individual in the population can be classified into one of the following five labor force statuses: employed full time (FT), PTER, PTNER, unemployed (U), and OLF.
The change in the stock of PTER can be decomposed into components representing changes in the probabilities of entering and exiting PTER as well as components representing changes in the transition probabilities between the remaining labor force statuses.
First, the transition probability from PTER to FT declined during 2007-09 and has remained low since then.
Counterfactual Exercises with the Transition Probabilities to and from PTER
fix all transition probabilities from PTER (to FT, to PTNER, to U, and to OLF);
fix all transition probabilities to PTER (from FT, from PTNER, from U, and from OLF);