Author:
Hyatt Henry R,Spletzer James R
Abstract
Abstract
We document and attempt to explain the recent decline in employment dynamics in the U.S. We have four major empirical findings. First, each measure exhibits a “stair step” pattern, with the declines concentrated in recessions and little increase during subsequent expansions. Second, changes in the composition of workers and businesses can explain only a small amount of the decline. Third, any explanation for the decline in job creation and job destruction will account for no more than one-third of the decline in hires and separations. Fourth, the decline in hires and separations is driven by the disappearance of short-duration jobs.
JEL Codes
E24, J63
Subject
Organizational Behavior and Human Resource Management,Economics and Econometrics,Industrial relations
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