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High Labor Market Churn During the 2020 Recession

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Abstract

Richmond Fed research has found that job losses during the COVID-19 recession have been concentrated in high-turnover sectors, with turnover rates in those occupations even higher than they were during the Great Recession. Workers displaced from high-turnover occupations often avoid long periods of unemployment, but they are historically less likely to develop long-term employment relationships, which limits their potential for sustained wage growth.

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  • Claudia Macaluso, 2021. "High Labor Market Churn During the 2020 Recession," Richmond Fed Economic Brief, Federal Reserve Bank of Richmond, vol. 21(06), February.
    • Handle: RePEc:fip:fedreb:92715
    Note: The original version of this brief contained a table, which was removed on March 2 to correct a coding error.
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    File URL: https://www.richmondfed.org/-/media/richmondfedorg/publications/research/economic_brief/2021/pdf/eb_21-06_data_appendix.pdf
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    Cited by:

    1. Marek Golinski & Dorota Baczkiewicz, 2021. "Analysis of Factors Influencing the Teamwork Competences of Managers Starting their Professional Career," European Research Studies Journal, European Research Studies Journal, vol. 0(Special 5), pages 64-76.

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