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The sources of worker anxiety: evidence from the Michigan survey

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  • Maria Ward Otoo

Abstract

This paper uses individual responses from the Michigan SRC survey of consumer attitudes to examine worker anxiety. It identifies "anxious" households (those that express some concern about job security) and analyzes some factors that might be driving this angst. It found that a little more than a quarter of households revealed concerns about job security. Also, the results suggest that less-educated households (those lacking a high-school diploma) were significantly more likely to be concerned about job loss than were black or Asian households.

Suggested Citation

  • 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.).
  • Handle: RePEc:fip:fedgfe:1997-48
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    References listed on IDEAS

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    1. Kim B. Clark & Lawrence H. Summers, 1982. "The Dynamics of Youth Unemployment," NBER Chapters,in: The Youth Labor Market Problem: Its Nature, Causes, and Consequences, pages 199-234 National Bureau of Economic Research, Inc.
    2. J. Dominitz & C. F. Manski, "undated". "Perceptions of Economic Insecurity: Evidence from the Survey of Economic Expectations," Institute for Research on Poverty Discussion Papers 1105-96, University of Wisconsin Institute for Research on Poverty.
    3. Arthur B. Kennickell & Martha Starr-McCluer & Annika E. Sunden, 1997. "Family finances in the U.S.: recent evidence from the Survey of Consumer Finances," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), issue Jan, pages 1-24.
    4. Martin Browning & Annamaria Lusardi, 1996. "Household Saving: Micro Theories and Micro Facts," Journal of Economic Literature, American Economic Association, vol. 34(4), pages 1797-1855, December.
    5. Christopher J. Flinn & James J. Heckman, 1982. "Models for the Analysis of Labor Force Dynamics," NBER Working Papers 0857, National Bureau of Economic Research, Inc.
    6. Füsun Gönül, 1992. "New Evidence on Whether Unemployment and out of the Labor Force are Distinct States," Journal of Human Resources, University of Wisconsin Press, vol. 27(2), pages 329-361.
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    Cited by:

    1. Daniel Aaronson & Daniel G. Sullivan, 1998. "The decline of job security in the 1990s: displacement, anxiety, and their effect on wage growth," Economic Perspectives, Federal Reserve Bank of Chicago, issue Q I, pages 17-43.
    2. Maria Ward Otoo, 1999. "Consumer sentiment and the stock market," Finance and Economics Discussion Series 1999-60, Board of Governors of the Federal Reserve System (U.S.).

    More about this item

    Keywords

    Labor supply ; Labor productivity;

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