RDP 2016-06: Jobs or Hours? Cyclical Labour Market Adjustment in Australia Equation

H ¯ t S,cf = H ¯ t S + N t L N t S ( H ¯ t L − H ¯ t−1 L ) MathType@MTEF@5@5@+=feaagCart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLnhiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=xfr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaWaa0aaaeaacaWGibaaamaaDaaaleaacaWG0baabaGaam4uaiaacYcacaWGJbGaamOzaaaakiabg2da9maanaaabaGaamisaaaadaqhaaWcbaGaamiDaaqaaiaadofaaaGccqGHRaWkdaWcaaqaaiaad6eadaqhaaWcbaGaamiDaaqaaiaadYeaaaaakeaacaWGobWaa0baaSqaaiaadshaaeaacaWGtbaaaaaakmaabmaabaWaa0aaaeaacaWGibaaamaaDaaaleaacaWG0baabaGaamitaaaakiabgkHiTmaanaaabaGaamisaaaadaqhaaWcbaGaamiDaiabgkHiTiaaigdaaeaacaWGmbaaaaGccaGLOaGaayzkaaaaaa@4FC6@