Recently, The New York Times examined the multitude of reasons why fewer Americans are changing jobs with insights from economists including U-M’s Betsey Stevenson in the article entitled "Fewer Americans Strike Out for New Jobs, Crimping the Recovery."
Some reasons for the lack of mobility by members of the workforce include a decrease in social trust and a fear of change. This is an important phenomenon to examine because the propensity for individuals to seek more lucrative and challenging positions provides the economy with much needed vitality, a vitality that has drained by nearly 25 percent since 1980.
In this stagnation, possible results could include lower productivity and a decreased power for employees and job seekers. While it is easy to assign this loyalty to a position to security during a time of economic uncertainty, the mobility has not recovered as the economy has.
“I don’t think anyone has a good answer yet. It’s a puzzle and it’s one I wish politicians and policy makers were more concerned about,” explains Betsey.
Find out more about Betsey and her work here!
Read "Fewer Americans Strike Out for New Jobs, Crimping the Recovery" from The New York Times.