Projects per year
Abstract / Description of output
Using quarterly data for the U.K. from 1993 through 2012, we document that in economic downturns a smaller fraction of unemployed workers change their career when starting a new job.
Moreover, the proportion of total hires that involves a career change for the worker also drops in recessions. Together with a simultaneous drop in overall turnover, this implies that the number of career changes declines during recessions. These results indicate that recessions are times of subdued reallocation rather than of accelerated and involuntary structural transformation.
We back this interpretation up with evidence on who changes careers, which industries and occupations they come from and go to, and at which wage gains.
Moreover, the proportion of total hires that involves a career change for the worker also drops in recessions. Together with a simultaneous drop in overall turnover, this implies that the number of career changes declines during recessions. These results indicate that recessions are times of subdued reallocation rather than of accelerated and involuntary structural transformation.
We back this interpretation up with evidence on who changes careers, which industries and occupations they come from and go to, and at which wage gains.
Original language | English |
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Pages (from-to) | 18-41 |
Number of pages | 24 |
Journal | European Economic Review |
Volume | 84 |
Early online date | 20 Oct 2015 |
DOIs | |
Publication status | Published - May 2016 |
Keywords / Materials (for Non-textual outputs)
- Labour market turnover
- occupational and industry mobility
- wage growth
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Dive into the research topics of 'The extent and cyclicality of career changes: Evidence for the UK'. Together they form a unique fingerprint.Projects
- 1 Finished
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MacCaLM: Labour and Credit Market Foundations of the Macroeconomy
Moore, J., Belot, M., Elsby, M., Guell, M., Kircher, P., Rodriguez Mora, S., Snell, A., Thomas, J., Visschers, L., Worrall, T. & Zymek, R.
1/06/15 → 31/05/22
Project: Research
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SIRE conference on Education and Skill Mismatch
Ludo Visschers (Speaker)
2014Activity: Participating in or organising an event types › Participation in workshop, seminar, course
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Annual Congress of the Spanish Economic Society “Simposio”
Ludo Visschers (Speaker)
2014Activity: Participating in or organising an event types › Participation in conference
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Search and Matching
Ludo Visschers (Speaker)
2014Activity: Participating in or organising an event types › Participation in conference