PUEFPortsmouth Under Eights Forum (childcare organization; UK)
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But figure 6 also shows some peculiarities, including a pro-cyclical PUEF hazard that follows the business cycle, positive but decreasing flows net of seasonal components during recession (second quadrant) and negative but increasing flows during recovery (fourth quadrant).
PUEF is pro-cyclical for all groups, as depicted in the graphical analysis.
For example, PUEF is roughly the probability of becoming employed in the formal sector (EF) after being unemployed (U).