Economists continues to search for explanations regarding America’s soft economic growth. The current expansion cycle has been associated with unusually slow growth, and 2016 has been no exception. The economy expanded just zero point eight percent on an annualized basis during the first three months of the year.
One of the explanations is that Americans are still too nervous. This translates into diminished business investment and consumer spending. It also translates into fewer Americans moving from the current addresses to look for better jobs.
A new study authored by economists at the University of Notre Dame and the Federal Reserve indicates that the proportion of workers jumping from one job to another declined by nearly a quarter between nineteen eighty and two thousand and thirteen.
People in Alaska, Idaho, Montana and South Dakota appear to have lost the most job mobility over time, meaning that they have become much more likely to stay in jobs that they don’t like rather than shift to new ones.
This additional job stickiness is made all the more surprising given social media sites like LinkedIn and Facebook, which render it easier to make connections and to learn about employment opportunities in other parts of the country.
