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  • Inequality Starts With Your Employer

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    Peter Orszag
    8 visualizzazioni2 pagine
    Rising inequality in the amount of money Americans earn turns out to be mostly explained by where they work. And that may help solve another puzzle about the economy: why fewer and fewer workers are moving from one company to another. For decades, economists have observed a growing disparity in earnings in the U.S. and questioned whether it stemmed from increasingly unequal pay within companies or from more unequal earnings from company to company.

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    Rising inequality in the amount of money Americans earn turns out to be mostly explained by where they work. And that may help solve another puzzle about the economy: why fewer and fewer workers are moving from one company to another. For decades, economists have observed a growing disparity in earnings in the U.S. and questioned whether it stemmed from increasingly unequal pay within companies or from more unequal earnings from company to company.

    Copyright:

    © All Rights Reserved
    Scarica in formato PDF, TXT o leggi online su Scribd
    Segnala contenuti inappropriati
    8 visualizzazioni2 pagine

    Inequality Starts With Your Employer

    Caricato da

    Peter Orszag
    Rising inequality in the amount of money Americans earn turns out to be mostly explained by where they work. And that may help solve another puzzle about the economy: why fewer and fewer workers are moving from one company to another. For decades, economists have observed a growing disparity in earnings in the U.S. and questioned whether it stemmed from increasingly unequal pay within companies or from more unequal earnings from company to company.

    Copyright:

    © All Rights Reserved
    Scarica in formato PDF, TXT o leggi online su Scribd
    Segnala contenuti inappropriati
    di 2

    6/16/2015

    Inequality Starts With Your Employer - Bloomberg View

    J OB S

    InequalityStartsWithYour
    Employer

    SEPT23,20149:03AMEDT

    ByPeterR.Orszag

    aA

    RisinginequalityintheamountofmoneyAmericansearnturnsouttobemostlyexplainedbywheretheywork.
    Andthatmayhelpsolveanotherpuzzleabouttheeconomy:whyfewerandfewerworkersaremovingfromone
    companytoanother.
    Fordecades,economistshaveobservedagrowingdisparityinearningsintheU.S.andquestionedwhetherit
    Schedule
    stemmedfromincreasinglyunequalpaywithincompaniesorfrommoreunequalearningsfromcompanyto
    company.
    Manypeoplehaveassumedthatmostofthechangehasbeenhappeningwithincompanies,ascertainemployees
    getdisproportionatelybiggerpaychecks.ButanewstudyofU.S.incomessincethe1970sshowsthatmostofthe
    riseininequalityhasbeenduetoagreaterspreadinaverageearningsacrosscompanies.TheresearchersErling
    BarthoftheInstituteforSocialResearch,AlexBrysonoftheNationalInstituteofEconomicandSocialResearch,
    JamesDavisoftheBostonCensusResearchDataCenter,andRichardFreemanoftheNationalBureauof
    EconomicResearchattributetwothirdstoninetenthsofthechangetoincreasinginequalityfromworkplaceto
    workplace.
    Thisgrowinggapmayalsohelpexplainadeclineinlabormarketfluidityinrecentyears.TheshareofAmericans
    whomoveacrossstateboundariesforemploymenthasbeenfallingsinceevenbeforetherecession,leadingtoa
    dropoffingeographicalmobilityforpeopleofworkingage.
    InanimportantpaperpresentedattheFederalReserveconferencelastmonthinJacksonHole,Wyoming,Steven
    DavisoftheUniversityofChicagoandJohnHaltiwangeroftheUniversityofMarylandshowedthattaken
    together,U.S.jobcreationandjobdestructionratesarejusttwothirdsashighastheir1991peak.Otherlabor
    marketindicatorsalsosuggestthatthereissubstantiallylessfluiditytodaythantherehasbeenhistoricallyand
    thatthedeclinestartedwellbeforetherecentrecession.
    DavisandHaltiwangernotethatthedecrease"holdsacrossmajorindustrysectors,acrossallstates,andacross
    ageandeducationgroupsforbothmenandwomen."Theyalsowarnthatthedropinlabormarketdynamism
    http://www.bloombergview.com/articles/2014-09-23/inequality-starts-with-your-employer

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    6/16/2015

    Inequality Starts With Your Employer - Bloomberg View

    couldthreatenfutureproductivitygrowth.
    Here'showthetwopapersmayberelated:Ifmostoftheriseinearningsinequalityisduetobiggerpay
    differencesacrosscompanies,onemightexpectthatfewpeoplewouldleavethehigherpayingemployersonce
    theyreinthedoor.Andwhileworkersatthelowerpayingcompaniesmaywanttojump,theopportunitiestodo
    sowouldbelimited.
    Regardlessofhowtightlythenewdataareconnected,theyhighlighttwoquestionsthatshouldnowbeofcentral
    importancetopolicymakers:Whyareearningsatdifferentcompaniesgrowingmoreunequal?Andwhyarejob
    turnoverratesplummeting?Bothproblemsappeartobeplayinglargeandunexpectedrolesinoureconomy.
    Tocontacttheauthoronthisstory:
    PeterROrszagatporszag3@bloomberg.net
    Tocontacttheeditoronthisstory:
    MaryDuenwaldatmduenwald@bloomberg.net

    http://www.bloombergview.com/articles/2014-09-23/inequality-starts-with-your-employer

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