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Job Churn Creates Massive Economic Uncertainty “Shocks in the initial months of the pandemic may have permanently destroyed a large share of employer-worker matches, many of which may have been highly productive,” Because highly productive matches are costly to find, the economic disruption induced by Covid-19 may have induced persistent reductions in productivity and employment.” Alexander Bick – Arizona State University & Adam Blandin – Virginia Commonwealth University The pandemic triggered a shock to both supply and demand in the economy. Management had no choice when lockdowns spread across the country but to lay off workers and ask those still working to work from home.  As a result, millions of workers were either permanently or temporally laid off. Laid-off workers reflected on the job they lost and whether they wanted to return to the same position even if it offered again.  While working from home, information services employees had time to evaluate their job

New yorkUnited statesSan franciscoPatrick hillNeil irwinAlexander bickSources wilmingtonArizona state university adam blandinBureau of labor statisticsVirginia commonwealth universityIllinois universityM retirees leave the laborNew york timesPhysician foundationPizza hutArizona state university