What Drew Voters To Trump? Obscure Job Statistic Offers Clue

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Riddick
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What Drew Voters To Trump? Obscure Job Statistic Offers Clue

Post by Riddick » 11-27-2016 03:52 AM

America prides itself as the “land of opportunity,” where all it takes to get ahead in life is hard work. But Donald Trump’s election victory revealed that many people believe they aren’t reaping the rewards they feel they deserve.

They have a point, according to the job-to-job transition rate. This somewhat obscure economic indicator measures how often people move from one job to another without a spell of unemployment in between.

These moves reflect a healthy economy with opportunities for the upwardly mobile, as people tend to change jobs this way for higher pay or to learn new skills.

In the US, this rate has been falling for almost two decades, according to researchers at the Federal Reserve Bank of San Francisco.

Using data from the Census Bureau, Canyon Bosler and Nicolas Petrosky-Nadeau show that between 1997 and 2013, the share of workers switching jobs from one month to another fell from almost 3% to 2%—about a 25% drop in relative terms.

Recent research led by economists at the Federal Reserve in Washington, DC found that labor mobility has been broad based, affecting all types of workers and industrial sectors. This study also argues that the decline began all the way back in the 1980s—mobility has diminished by between 10% and 15% since then, according to a comprehensive set of measures.

A paper published by Stephan Danninger, economist at the IMF, shows people were switching jobs less often in all age groups and across all education levels. But demographic changes, including aging of the labor force and changes in education levels, didn’t explain the decline.

The Fed researchers dismiss the notion that a lack of job-hopping is for positive reasons, such as better matches between workers and firms, better pay, and better on-the-job training.

Instead, they say there is some evidence that a decline in “social trust”—the level of trust the public has in the country’s economic and financial institutions—has made people less willing to change jobs as readily as before.

Regardless of the cause, the implications of the decline are far reaching. Lower mobility in the labor market means workers have fewer chances to negotiate a better deal.

Not only is this bad for workers, but it can hurt productivity. If fewer people move between industries, it could make the US economy less dynamic and responsive to new growth opportunities. Then, everyone is worse off.

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A mind should not be so open that the brains fall out; however, it should not be so closed that whatever gray matter which does reside may not be reached. ART BELL

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Re: What Drew Voters To Trump? Obscure Job Statistic Offers Clue

Post by Doka » 11-27-2016 09:50 AM

Again, another article, that gives lot's of lovely stats, but ignores totally, the corruption with-in the democrat and republican party? That certainly had a LOT to do with my vote! It is hard to believe, that I and Few others are the only ones who noticed or cared.? Those that embrace Castro's Cuba as an ideal way to live, should be allowed to do so, but leave the rest of us alone.
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Re: What Drew Voters To Trump? Obscure Job Statistic Offers Clue

Post by Riddick » 11-27-2016 12:44 PM

Doka wrote:Again, another article, that gives lot's of lovely stats, but ignores totally, the corruption with-in the democrat and republican party? That certainly had a LOT to do with my vote! It is hard to believe, that I and Few others are the only ones who noticed or cared.? Those that embrace Castro's Cuba as an ideal way to live, should be allowed to do so, but leave the rest of us alone.
Hey now Doka, it's just one article focusing on one factor (people pissed off about being left behind economically) among many that drew voters to Trump - I dunno, if there's a grand unified article that includes all of them, I'd love to see it. Still for me, it's kind of a given, the corruption - I'll bring it up as it's germane or relevant, yet in general I prefer not to dwell too long or too much on it, unless I can make a point in a humorous or ironic way

Yet, if I may I'll just say even as the article doesn't explicitly address the issue, an argument could be made the decline in public trust of our economic and financial institutions implicitly directs an accusing finger at DC's corrupt insiders - I dunno exactly what-all Trump intends to do about the revolving door between K Street and Wall Street but If he can put ANY kind of lid on lobbying by ex-elected officials that'd be great.
A mind should not be so open that the brains fall out; however, it should not be so closed that whatever gray matter which does reside may not be reached. ART BELL

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Re: What Drew Voters To Trump? Obscure Job Statistic Offers Clue

Post by Doka » 11-27-2016 03:38 PM

Hey Riddick , I love your off the wall posts, as your thought provoking other posts so please keep it up. I have been down with pneumonia, which is not a great attitude booster. Probably a paid vacation to Syria would not even help! :rolleyes: Then last night the neighbor's cat miss-took my shaky finger for an attack toy and sunk a claw into it almost to the bone and it bled like it had been removed, and I could not find any of the boxes of band-aids I keep bringing home. Someday, I'm going to open a forgotten cupboard and have thousands of band-aids come roaring out at me. I'm just pitiful and as full of self pity as the some of the people in this country are. Not pretty on anyone. I probably won't go out and smash my neighbors windshield, cause, I've had a bad couple days, and nobody sent me a check, to do so. :wink:

So back to bed.............. :D My sad story wore me out and probably you too! :facepalm:
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Re: What Drew Voters To Trump? Obscure Job Statistic Offers Clue

Post by kbot » 11-28-2016 11:46 AM

Many people who said they voted for Trump, that I heard discuss their reasons why, stated they voted the way they did because of the jobs issue - and this make sense when you consider that while Obama count tout job growth, what jobs there were that were new jobs, typically were lower-paying, and people ended-up working two (or more) jobs just o break even, and even then they didn't have the benefits to match what they'd had previously........

Doka - hope you're feeling better. Pneumonia is nothing to fool around with.
There you go man, keep as cool as you can. Face piles and piles of trials with smiles. It riles them to believe that you perceive the web they weave. And keep on thinking free. (Moody Blues)

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Re: What Drew Voters To Trump? Obscure Job Statistic Offers Clue

Post by Riddick » 11-29-2016 05:07 PM

Like kbot says, pneumonia's nothing to fool around with. Take care of yourself Doka and get well soon!

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Re: What Drew Voters To Trump? Obscure Job Statistic Offers Clue

Post by Doka » 11-29-2016 10:56 PM

Thank you for the "take cares" and "get well", I'm better, but Riddick, I think I know what the ,inside of the "frog" looks and feels like. :|
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Those Who Can Make You Believe Absurdities, Can Make You Commit Atrocities': Voltaire

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