This view misses the difference between the transitional and structural effects of job loss. Even if a job is "bad", losing it creates short-term shocks; espec

This view misses the difference between the transitional and structural effects of job loss. Even if a job is "bad", losing it creates short-term shocks; especially low-income workers can’t instantly move to better jobs. No doubt that structural (long term) changes are profitable for everybody - but both phenomenons can hold true.