Another Problem With Jobs

The recession not only limited the number of jobs available to Americans, but there was collateral damage in that many workers were afraid to leave their jobs and move onward and upward. The number of people voluntarily leaving jobs fell  from 3.1 million in 2006 to 1.6 million in 2009, but it hasn't fully rebounded. It was at just 2.5 million in May of this year.

You can also see that workers are staying in their current jobs longer. From 2008 to 2012, the most recent year available, the median tenure of workers ages 25-34 in their current job rose by 19 percent; workers ages 35-44 saw their tenure climb by 8 percent. These things are harmful to the economy not just because they limited job growth but because many Americans who have remained employed limited their earnings growth by staying in their current jobs.

Aside from recessionary factors, Goldman Sachs has also determined that worker dynamism is also falling overall, in any type of economy. That's one more factor that might keep our economy sluggish.