Not Just the Long-Term Unemployed: Those Unemployed Zero Weeks Are Struggling to Find Jobs
Next New Deal
There’s a significant labor economics literature that argues that job-to-job transitions are a major driver of wage growth for workers. If the number of people moving directly from one job to another is in decline, that’s a bad sign for wage growth, as well as inflation and monetary policy. This appears to be undertheorized and not discussed enough in academic or policy discussions.
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