To account for employment evolutions at the macro-economic level, we propose a modelling
where employment is explained by added value, working time and real labour cost.
Estimations using quarterly French macro-economic data are carried out in a multivariate
framework for three sets of sectors. We get a relationship in which employment rises with
growth and decreases when labour cost or working time rises in industrial sectors as well as
in non-industrial ones. This model then permits to measure retrospectively the contributions
of each of the variables to employment inflections since the mid-eighties.
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