Workers' perceptions of earnings growth and employment risk

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Authors and Corporations:	Koşar, Gizem (Author), Klaauw, Wilbert van der (Author)
Other Authors:	Klaauw, Wilbert van der 1963- [Author]
Type of Resource:	E-Book
Language:	English
published:	New York, NY Federal Reserve Bank of New York [2023]
Series:	Federal Reserve Bank of New York: Staff reports ; no. 1056 (February 2023)
Subjects:	expectations data beliefs household surveys strategic survey questions labor market uncertainty wage persistence Graue Literatur expectations data beliefs household surveys strategic survey questions labor market uncertainty wage persistence
Source:	Verbunddaten SWB Lizenzfreie Online-Ressourcen

Description
Summary:	In addition to realized earnings and employment shocks, forward-looking individuals are presumed to condition their consumption and labor supply decisions on their subjective beliefs about future labor market risks. This paper analyzes these perceptions of earnings and employment risks using rich monthly panel data. It documents considerable individual heterogeneity in expected earnings growth and earnings growth uncertainty and in the perceived likelihood of a voluntary and involuntary job exit. We examine how these expectations evolve over the working life and the business cycle, and how they co-vary with expectations about the macro economy. Our analysis provides novel evidence on the perceived persistence in earnings growth shocks and on the association between future earnings and spending growth.
Physical Description:	1 Online-Ressource (circa 73 Seiten); Illustrationen