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Unemployment and re-employment of displaced workers

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Legacy
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  • Economics

Abstract

Examines the incidence and adjustment experiences of workers who are displaced by economic change. Since the mid-1970s, the aggregate annual rate of retrenchment has fluctuated in a counter-cyclical pattern around a relatively stable long-term trend of about 5 per cent. The paper shows that the probability of retrenchment and the nature of post-retrenchment adjustment varies between different groups of workers and depends on general economic conditions.

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