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Understanding the Lack of Skill Specialization in Peru
Jobs in Peru use a larger number of skills than comparable jobs in the U.S. This lack of specialization is consistent with firms’ hiring of "toderos" (workers with many skills, do-it-alls), given the high levels of worker reallocation.Labor markets in poorer countries are characterized by higher worker reallocation rates.1 In richer economies, a dynamic labor market that seamlessly reallocates workers to jobs goes hand in hand with robust productivity growth and sustained income growth.2 Instead, in poorer countries, the brisk pace of reallocation is accompanied by high unemployment and ...