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Combining the longitudinal dimension and the retrospective calendar of the French Labour Force Survey (2003-2011), we analyse the labour market transitions and outcomes of workers who were dismissed for economic reasons. This study analyses the re-employment patterns of displaced workers and their earnings losses, as is common in the literature, as well as the consequences of displacement for other aspects of job quality. Results suggest that the cost of involuntary job loss is important and goes beyond the fall in earnings. Workers who are made redundant face relatively long spells of non-employment before getting back to work and their new jobs tend to be of lower quality than their pre-displacement jobs along a number dimensions. Re-employed displaced workers suffer a monthly wage penalty of 15-20% and are, on average, nine times as likely to lose their job again as are workers who have not been made redundant. In addition, displaced workers are more likely to work part-time once re-employed, and to have fewer paid holidays and lower job authority than had they not been dismissed, though these differences tend to fall over time.

Employment --- Social Issues/Migration/Health --- France

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The shares of top income recipients in total pre-tax income have increased in OECD countries in the past three decades, particularly in most of the English-speaking countries but also in some Nordic (from low levels) and Southern European countries. Today, the richest one percent receives between 7% of all pre-tax income in Denmark and the Netherlands up to almost 20% in the United States. This increase is the result of the top 1% capturing a disproportionate share of overall income growth over the past thirty years: around 20 – 25% in Australia and the United Kingdom, up to 37% in Canada and even 47% in the United States. At the same time, tax reforms in almost all OECD countries reduced top personal income tax rates as well as rates of other taxes affecting the highest income earners. Indeed, while top tax rates were equal to or above 70% in half of the countries in the mid-1970s, this rate has been halved in many countries by 2013.

Social Issues/Migration/Health --- Taxation --- Economics