Journal Article

Research Spotlight: Skill Mismatch, Layoffs, and Bouncing Back


Abstract: Being laid off from one's job often leads to worse future employment outcomes. The underlying reasons for this are unclear, however. Recent research by Richmond Fed Economist Claudia Macaluso has found that mismatch between a laid-off worker's skills and the skills involved in other local jobs plays a significant role. She created a novel measurement of "local skill remoteness" and used it to compare the effects of layoffs from jobs with varying levels of this skill remoteness on a worker's wages, future employment, and migration.

Keywords: human capital; human capital and labor;

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Description: Journal Article

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Provider: Federal Reserve Bank of Richmond

Part of Series: Econ Focus

Publication Date: 2024-06

Volume: 24

Issue: 3Q