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The decline of job security in the 1990s: displacement, anxiety, and their effect on wage growth

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Author Info

  • Daniel Aaronson
  • Daniel G. Sullivan

Abstract

This article shows that job displacement rates for high-seniority workers and a consistently constructed measure of workers' fears of job loss both rose during the 1990s. It then explores the relationship between these measures of job displacement and worker anxiety and wage growth.

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File URL: http://www.chicagofed.org/digital_assets/publications/economic_perspectives/1998/ep1Q98_b.pdf
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Bibliographic Info

Article provided by Federal Reserve Bank of Chicago in its journal Economic Perspectives.

Volume (Year): (1998)
Issue (Month): Q I ()
Pages: 17-43

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Handle: RePEc:fip:fedhep:y:1998:i:qi:p:17-43:n:v.22no.1

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Related research

Keywords: Job security ; Downsizing of organizations ; Wages;

References

References listed on IDEAS
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  1. Lewis Segal & Daniel Sullivan, 1996. "The growth of temporary services work," Working Paper Series, Macroeconomic Issues WP-96-26, Federal Reserve Bank of Chicago.
  2. Ureta, Manuelita, 1992. "The Importance of Lifetime Jobs in the U.S. Economy, Revisited," American Economic Review, American Economic Association, vol. 82(1), pages 322-35, March.
  3. repec:fth:prinin:377 is not listed on IDEAS
  4. Jacobson, Louis S & LaLonde, Robert J & Sullivan, Daniel G, 1993. "Earnings Losses of Displaced Workers," American Economic Review, American Economic Association, vol. 83(4), pages 685-709, September.
  5. Jaeger, David A. & Stevens, Ann Huff, 1999. "Is Job Stability in the United States Falling?," IZA Discussion Papers 35, Institute for the Study of Labor (IZA).
  6. Michael Podgursky & Paul Swaim, 1987. "Job displacement and earnings loss: Evidence from the Displaced Worker Survey," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, vol. 41(1), pages 17-29, October.
  7. Robert J. Gordon, 1996. "The Time-Varying NAIRU and its Implications for Economic Policy," NBER Working Papers 5735, National Bureau of Economic Research, Inc.
  8. David Autor & Lawrence Katz & Alan Krueger, 1997. "Computing Inequality: Have Computers Changed the Labor Market?," Working Papers 756, Princeton University, Department of Economics, Industrial Relations Section..
  9. Diebold, Francis X & Neumark, David & Polsky, Daniel, 1997. "Job Stability in the United States," Journal of Labor Economics, University of Chicago Press, vol. 15(2), pages 206-33, April.
  10. Olivier Blanchard & Lawrence F. Katz, 1996. "What We Know and Do Not Know About the Natural Rate of Unemployment," NBER Working Papers 5822, National Bureau of Economic Research, Inc.
  11. David G. Blanchflower & Andrew J. Oswald, 1995. "The Wage Curve," MIT Press Books, The MIT Press, edition 1, volume 1, number 026202375x, December.
  12. Valletta, Robert G, 1999. "Declining Job Security," Journal of Labor Economics, University of Chicago Press, vol. 17(4), pages S170-97, October.
  13. Hall, Robert E, 1982. "The Importance of Lifetime Jobs in the U.S. Economy," American Economic Review, American Economic Association, vol. 72(4), pages 716-24, September.
  14. Bruce C. Fallick, 1995. "A review of the recent empirical literature on displaced workers," Finance and Economics Discussion Series 95-14, Board of Governors of the Federal Reserve System (U.S.).
  15. Topel, Robert, 1990. "Specific capital and unemployment: Measuring the costs and consequences of job loss," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 33(1), pages 181-214, January.
  16. Kenneth A. Swinnerton & Howard Wial, 1995. "Is job stability declining in the U.S. economy?," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, vol. 48(2), pages 293-304, January.
  17. David Card, 1995. "The Wage Curve: A Review," Journal of Economic Literature, American Economic Association, vol. 33(2), pages 285-299, June.
  18. Charles F. Manski, 1993. "Adolescent Econometricians: How Do Youth Infer the Returns to Schooling?," NBER Chapters, in: Studies of Supply and Demand in Higher Education, pages 43-60 National Bureau of Economic Research, Inc.
  19. Douglas Staiger & James H. Stock & Mark W. Watson, 1997. "The NAIRU, Unemployment and Monetary Policy," Journal of Economic Perspectives, American Economic Association, vol. 11(1), pages 33-49, Winter.
  20. Maria Ward Otoo, 1997. "The sources of worker anxiety: evidence from the Michigan survey," Finance and Economics Discussion Series 1997-48, Board of Governors of the Federal Reserve System (U.S.).
  21. Moulton, Brent R, 1990. "An Illustration of a Pitfall in Estimating the Effects of Aggregate Variables on Micro Unit," The Review of Economics and Statistics, MIT Press, vol. 72(2), pages 334-38, May.
  22. Ruhm, Christopher J, 1991. "Are Workers Permanently Scarred by Job Displacements?," American Economic Review, American Economic Association, vol. 81(1), pages 319-24, March.
  23. repec:fth:prinin:343 is not listed on IDEAS
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Citations

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Cited by:
  1. David Campbell & Alan Carruth & Andrew Dickerson & Francis Green, 2007. "Job insecurity and wages," Economic Journal, Royal Economic Society, vol. 117(518), pages 544-566, 03.
  2. Skalli, Ali & Theodossiou, Ioannis & Vasileiou, Efi, 2008. "Jobs as Lancaster goods: Facets of job satisfaction and overall job satisfaction," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 37(5), pages 1906-1920, October.
  3. Petri Böckerman, 2004. "Perception of Job Instability in Europe," Social Indicators Research, Springer, vol. 67(3), pages 283-314, July.
  4. Pierre Brochu & Louis-Philippe Morin, 2012. "Union Membership and Perceived Job Insecurity: Thirty Years of Evidence from the American General Social Survey," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, vol. 65(2), pages 263-285, April.
  5. Clair Brown & Julia Lane & Timothy Sturgeon, 2013. "Workers' Views of the Impact of Trade on Jobs," Industrial Relations: A Journal of Economy and Society, Wiley Blackwell, vol. 52(1), pages 1-21, 01.
  6. Linz, Susan J. & Semykina, Anastasia, 2008. "How do workers fare during transition? Perceptions of job insecurity among Russian workers, 1995-2004," Labour Economics, Elsevier, vol. 15(3), pages 442-458, June.

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