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They need to look at another number - mean time job lasted after move. The cost, both financial and non-financial, of a move is considerable. Moving for a job w
by Animats 1y ago
They need to look at another number - mean time job lasted after move.
The cost, both financial and non-financial, of a move is considerable. Moving for a job with questionable job security is high risk. The decline in length of employment affects willingness to move.
The Bureau of Labor Statistics has job tenure data back to 2014.[1] Down 16% over that period. I wonder if there's data going further back.
[1] https://www.bls.gov/news.release/tenure.t06.htm https://www.bls.gov/news.release/tenure.t06.htm
- rufus_foreman 1y ago>> I wonder if there's data going further back There is: https://www.bls.gov/opub/ted/2024/median-tenure-with-current-employer-was-3-9-years-in-january-2024.htm https://www.bls.gov/opub/ted/2024/median-tenure-with-current.... Job tenure now is higher than it was during the 1980's and 1990's.
- financetechbro 1y agoThe nuance here is that it’s trending in the wrong direction
- rufus_foreman 1y agoI don't think it is as simple as that. On the first hand, if employees have shorter job tenure because they are switching jobs for better pay and opportunities is that "the wrong direction"? For employees it might not be, for employers it might be, for the economy in general? It depends. And on the second hand, if employees have longer job tenure because they hate their jobs, but can't find new ones so can't quit, is that "the right direction"? For employers it might be, for employees it might not be, for the economy in general? It depends. And, as an economist, on the third hand...
- Animats 1y agoInteresting. It's been between 3 and 4 years for the whole period, though. It's not like it's halved. I would have expected a long term drop, but no.