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Title: Labor Turnover and Youth Unemployment
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Leighton, Linda S. Mincer, Jacob |
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Labor Turnover and Youth Unemployment In: The Youth Labor Market Problem: its Nature, Causes, and Consequences. RB Freeman, et al., eds. Chicago IL: University of Chicago Press, 1982 Cohort(s): Older Men, Young Men Publisher: University of Chicago Press Keyword(s): Behavior; Black Youth; Human Capital Theory; Labor Turnover; Learning Hypothesis; Modeling; Racial Differences; Unemployment Rate; Unemployment, Youth Public concern about youth employment problems in the U.S. derives from three facts: (1) the unemployment rate of young people is high in absolute numbers, in relation to adult unemployment, and in comparision with other countries; (2) unemployment rates of black youths are much higher; (3) youth unemployment rates have increased in recent years. Data from the two panels of men in the NLS and Michigan Income dynamics are used in several analyses that attempt to illustrate the structure of unemployment and to address the more permanent problem of high youth unemployment. Why is it so high? Are there criteria by which we can judge that it is too high? Why does it decline with age in a particular fashion? Models used suggest that the search for a determination of the operative mechanism in the human capital theory may not be the appropriate focus. The theory's primary insight relating to turnover is the importance of specific as opposed to general learning. This distinction plays a pivotal role in pure sorting and adaptive behavior models as well as in analyses of actual training processes. |
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Bibliography Citation
Leighton, Linda S. and Jacob Mincer. "Labor Turnover and Youth Unemployment" In: The Youth Labor Market Problem: its Nature, Causes, and Consequences. RB Freeman, et al., eds. Chicago IL: University of Chicago Press, 1982
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