One in Three U.S. Workers Changed or Lost Jobs in Past Year
- Labor market churn is twice as high as historical levels
- Almost 26% people had a new employer a year after Covid-19 hit
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More than a third of U.S. workers changed employers or lost their jobs since the start of the pandemic, double the typical level in the previous two decades, according to a study.
Among workers who had a job in February 2020, almost 37% were no longer with their employer a year later, according to a by Alexander Bick of Arizona State University and Adam Blandin of Virginia Commonwealth University. Almost 26% had a different employer, and the remaining 11% were out of a job.