Cost of Job Loss and its Relation to Unemployment
The cost of job loss refers to the net economic and psychological loss an employee experiences if they are fired. This cost is inversely related to the overall level of employment; when unemployment is low, the expected duration of a job search is shorter, which reduces the cost of job loss. A smaller cost of job loss strengthens workers' bargaining position, as the threat of unemployment becomes less severe.
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Economics
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Introduction to Macroeconomics Course
Ch.4 Inflation and unemployment - The Economy 2.0 Macroeconomics @ CORE Econ
The Economy 2.0 Macroeconomics @ CORE Econ
CORE Econ
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