Thursday, April 3, 2008

Is the US losing its labor mobility? (redux)

In past blogs we have talked about how the housing downturn has made it difficult for workers to move to where the jobs are, reducing the US economy's ability to respond to shocks. This will exacerbate a downturn.
When housing is not an obstacle, more than five million men and women, nearly 4 percent of the nation’s work force, move annually from one place to another — to a new job after a layoff, or to higher-paying work,
Retireees are also having a hard time moving to be near their children.

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