A Theory on Long-Term Economic Trends and a Sudden Crash | NYTimes.com

The basic idea at the heart of the paper is that the lack of churn in the labor market is making it harder for younger people to find jobs, and those who don’t are more likely to remain outside the labor force

“Those who seek work are likely to find a suitable job in a fluid labor market.”

“They then travel a path that involves human capital accumulation, strengthening their attachment to employment.

“In contrast, some marginal workers fail to find suitable employment quickly in a labor market characterized by reduced fluidity.”

via A Theory on Long-Term Economic Trends and a Sudden Crash – NYTimes.com.

Advertisements

Comments

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s