The Effect of Job Displacement on Cumulated Years Worked
The Effect of Job Displacement on Cumulated Years Worked
This chapter considers whether short-term losses experienced by displaced workers persist over time by impacting the cumulative years that the typical individual works. Using administrative records from the Social Security Administration, the analysis finds that workers released in mass layoffs experience significant reductions in work activity in later life. Such reductions will naturally result in sizeable decreases in available resources both during working years and in preparedness for retirement. The authors conclude that job displacement is an extraordinary event in terms of its cumulative effect on availability of resources for individuals.
Keywords: job loss, displacement, labor supply, years of work
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