TITLE:
An Examination of Male and Female Monthly Employment Rates over Time in Canada and the United States Using Hidden Markov Probability Models
AUTHORS:
William H. Laverty, Ivan W. Kelly
KEYWORDS:
Employment Trends, Hidden Markov Models, Multivariate Data, Canada, United States
JOURNAL NAME:
Open Journal of Statistics,
Vol.8 No.5,
September
29,
2018
ABSTRACT: In this
paper, we will illustrate the use and power of Hidden Markov models in
analyzing multivariate data over time. The data used in this study was obtained
from the Organization for Economic Co-operation and Development (OECD. Stat database url: https://stats.oecd.org/) and
encompassed monthly data on the employment rate of males and females in Canada and the
United States (aged 15 years and over; seasonally adjusted from January 1995 to
July 2018). Two
different underlying patterns of trends in employment over the 23 years observation period were
uncovered.