How It Got Harder for Americans to Climb Toward Prosperity
A new economics paper puts its finger on something that American workers have felt for years, even though economists keep describing it too abstractly: it has become much harder to use one job as a springboard to a better one.
The paper is very good at establishing the decline of upward job mobility. But it misses the major causes: deindustrialization and mass immigration .
Let’s start with what they get right. For most workers, the biggest raises don’t come from annual reviews, cost-of-living adjustments, or even internal promotions. They come from getting a better offer somewhere…
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