RT Journal Article
T1 The extent and cyclicality of career changes: Evidence for the U.K.
A1 Carrillo-Tudela, Carlos
A1 Hobijn, Bart
A1 She, Powen
A1 Visschers, Ludo
AB Using quarterly data for the U.K. from 1993 through 2012, we document that the extent of worker reallocation across occupations or industries (a career change, in the parlance of this paper) is high and procyclical. This holds true after controlling for workers' previous labour market status and for changes in the composition of who gets hired over the business cycle. Our evidence suggests that a large part of this reallocation reflect excess churning in the labour market. We also find that the majority of career changes come with wage increases. During the economic expansion wage increases were typically larger for those who change careers than, for those who do not. During the recession this is not true for career changers who were hired from unemployment. Our evidence suggests that understanding career changes over the business cycle is important for explaining labour market flows and the cyclicality of wage growth.
PB Elsevier
SN 0014-2921
YR 2016
FD 2016-05
LK https://hdl.handle.net/10016/38792
UL https://hdl.handle.net/10016/38792
LA eng
NO Part of special issue: European Labor Market Issues. Edited by Leo Kaas, Aysegul Sahin
NO Carlos Carrillo-Tudela acknowledges financial support from the UK Economic and Social Research Council (ESRC), Award reference ES/I037628/1. Ludo Visschers acknowledges financial support from the Juan de la Cierva Fellowship, Project Grant ECO2010-20614 from the Spanish Ministry of Science and Innovation, the Bank of Spain's Programa de Investigacion de Excelencia and from the UK Economic and Social Research Council (ESRC), Award reference ES/LOO9633/1.
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