For more on the analysis of industry-specific Beveridge Curves, see this paper published in the June 2012 Monthly Labor Review that decomposes shifts in the Beveridge Curve and looks at it by industry. Analyzing data through March 2012, the authors found that Construction alone shifted the total market Beveridge Curve by a full percentage point (see Table 4 in the paper).
While the data is all available from the Bureau of Labor Statistics (BLS) webpage it required some looking through the available files to find the right series. In the handy code I post below, we can grab the right data from BLS and produce our plots.
We’re going to pull our data from two sources, the JOLTS data, and the Current Population Survey (CPS). You can access flat files from BLS here for JOLTS and here for CPS. Unfortunately the industry codes available in the flat files are not identical, but I hunted down (what I think are) the proper codes and combined them. You can read more here.
The relevant passages are quoted below
The Job Openings and Labor Turnover Survey (JOLTS) publishes industry estimates based on the 2012 North American Industry Classification System (NAICS). NAICS-based estimates are available for December 2000 to the present
The Current Population Survey currently uses the 2010 Census occupational classification and, beginning with data for January 2014, the 2012 Census industry classification. These classifications were derived from the 2010 Standard Occupational Classification (SOC) and the 2012 North American Industry Classification System (NAICS), respectively, to meet the special classification needs of demographic household surveys. The Census classifications use the same basic structure as the SOC and NAICS, but are generally less detailed.
A crosswalk between the codes are available here. For example, construction has the Census code 0770 while the corresponding NAICS code is 23.
I’m going to rely on the fact that the industry names are identical in the BLS data and merge on the industry names rather than use the crosswalk. You can confirm this works by comparing this table for JOLTS to this table for the unemployment rate from CPS.
The code below merges the industry names and codes for JOLTS to (the same) industry name and (different) codes for CPS.
Now that we have the codes we can read the data from the BLS and use the industry codes to merge the data.
Now we should have data in a format that we can use.
Accommodation and food services
Arts, entertainment, and recreation
Durable goods manufacturing
Education and health services
Finance and insurance
Health care and social assistance
Leisure and hospitality
Nondurable goods manufacturing
Professional and business services
Real estate and rental and leasing
Source: U.S. Bureau of Labor Statistics
data are not seasonally adjusted
Create Panel Plot
Now we can create a panel plot.
If we wish, we can add animation through the following code.