# metadata.dc.description.abstract[].value
Using a high-frequency framework, we show that the Auroba-Diebold-Scotti (ADS) daily business conditions index significantly increases the accuracy of U.S. unemployment nowcasts in real-time. This is of particular relevance in times of recession, such as the Global Financial Crisis and the Covid-19 pandemic, when the unemployment rate is prone to rise steeply. Based on our results, the ADS index presents itself as a better predictor than the financial indicators widely used by the literature and central banks, including both interest and credit spreads and the VXO.

# metadata.dc.publisher[].value
Universitat de Barcelona. Facultat d'Economia i Empresa

# metadata.dc.rights[].value
cc-by-nc-nd, (c) Chuliá Soler et al., 2022

# metadata.dc.source[].value
Documents de treball (Institut de Recerca en Economia Aplicada Regional i Pública (IREA))