Working Paper

The Extent and Cyclicality of Career Changes: Evidence for the U.K

Abstract: U.K. data from 1993-2012 suggest that in economic downturns a smaller fraction of unemployed workers change their career when starting a new job. The proportion of total hires involving a career change also drops. This implies that career changes decline during recessions. The results indicate that recessions are times of subdued reallocation rather than of accelerated and involuntary structural transformation.

Keywords: labor market turnover; occupational and industry mobility; wage growth;

JEL Classification: G10; J63; J64;

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Bibliographic Information

Provider: Federal Reserve Bank of San Francisco

Part of Series: Working Paper Series

Publication Date: 2014-08-27

Number: 2014-21

Pages: 34 pages