TY - BOOK ID - 135363298 TI - What's Up with U.S. Wage Growth and Job Mobility? PY - 2016 SN - 147553017X PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Wages KW - Labor market KW - Labor mobility KW - Aggregate Human Capital KW - Aggregate Labor Productivity KW - Demand and Supply of Labor: General KW - Economic theory KW - Employment KW - Income economics KW - Intergenerational Income Distribution KW - Job, Occupational, and Intergenerational Mobility KW - Labor economics KW - Labor Economics: General KW - Labor Force and Employment, Size, and Structure KW - Labor markets KW - Labor Turnover KW - Labor KW - Labour KW - Layoffs KW - Macroeconomics KW - Promotion KW - Unemployment rate KW - Unemployment KW - Unemployment: Models, Duration, Incidence, and Job Search KW - Vacancies KW - Wage Differentials KW - Wage Level and Structure KW - Wages, Compensation, and Labor Costs: General KW - United States UR - https://www.unicat.be/uniCat?func=search&query=sysid:135363298 AB - Since the global financial crisis, US wage growth has been sluggish. Drawing on individual earnings data from the 2000–15 Current Population Survey, I find that the drawn-out cyclical labor market repair—likely owing to low entry wages of new workers—slowed down real wage growth. There are, however, also signs of structural changes in the labor market affecting wages: for full-time, full-employed workers, the Wage-Phillips curve—the empirical relationship between wage growth and the unemployment rate—has become horizontal after 2008. Similarly, job-turnover rates have continued to decline. Job-to-job transitions—associated with higher wage growth—have slowed across all skill and age groups and beyond what local labor market conditions would imply. This raises concerns about the allocative ability of the labor market to adjust to changing economic conditions. ER -