Industry churning, the labor market and workers' welfare
Date
2010
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Publisher
DLSU Angelo King Institute for Economic and Business Studies, Manila, PH
Abstract
Workers bear a disproportionately large share of the cost of labor reallocation. This case study of displaced workers in the Philippines shows that job loss results in significant economic losses and drastic deterioration in workers’ welfare, and that these adverse outcomes can persist over the medium to long term. The low re-employment rate, a drop in the quality of employment and earnings for those who find work again, heightened economic insecurity, and a drastic decline in workers health status are among the most dramatic consequences of job loss. Feasible policy measures for protection of workers exist, and these should be enacted.
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Policy Brief
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Keywords
ECONOMIC AND SOCIAL DEVELOPMENT, INDUSTRY CHURNING, EMPLOYMENT SECURITY, EMPLOYMENT AND WORKER WELFARE, WORKERS, LAYOFF