(2) Allison Schrager, US Companies Grow Older and Hire Less.
www.bloomberg.com/news/articles/ ... older-and-hire-less
*"One of the historic strengths of the U.S. economy has been the ease with which American workers move into and out of jobs. This fluidity, as economists call it, can lead to higher wages: People often get higher pay when they switch jobs, while the risk of losing quality workers to a rival can entice employers to pay more")
Note:
(a) summary underneath the title in print: Job fluidity decreases as the number of young companies drop
(b) "Steven Davis, an economist at the University of Chicago Booth School of Business * * * Davis’s latest paper, published in December and co-written with University of Maryland economist John Haltiwanger"
Steven J Davis and John Haltiwanger, Labor Market Fluidity and Economic Performance. NBER, September 2014 (revised on Dec 8, 2014; NBER Working Paper No 20479)
www.nber.org/papers/w20479
(c) "Michael Madowitz, an economist with the Center for American Progress, points out that fluidity is only one way to measure job turnover. He says a recent increase in nonstandard employment, such as independent contracting, isn’t included in Davis’s estimates. That could mean there’s more fluidity in the job market than Davis found. Madowitz also isn’t convinced changing jobs more often is good for growth."
en.wikipedia.org/wiki/Center_for_American_Progress
(Founded 2003; Founder John Podesta; Location Washington DC)
(d) The graphic (titled "Labor Churn") depicted two recessions:
(i) March to November 2001, and
(ii) December 2007- June 2009,
both "according to the US National Bureau of Economic Research (the official arbiter of US recessions"--but a private, non-profit organization)
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