Labor mobility influenced by financial factors from "summary" of Labor in the Age of Finance by Sanford M. Jacoby
Labor mobility is not solely determined by personal preferences or industry demand. Financial factors play a crucial role in shaping the movement of workers across different sectors and regions. The ability of workers to relocate or switch jobs is often limited by their financial situation. For instance, individuals with limited savings or high levels of debt may find it difficult to move to a new location for a job opportunity. Additionally, the availability of financial resources can impact a worker's decision to leave a current job for a potentially better-paying position. Furthermore, financial factors can also influence the types of industries that workers choose to enter. For example, individuals may be more l...
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