Social Trust and Employment Trends

This article points out a very interesting trend – less people are moving to find new work. It may seem inconsequential or obvious, but the effects and projected reasons behind this trend are evocative of a greater problem: a drastic decline in social trust. According to the studies presented here, people seem to be staying in jobs that they aren’t happy with because they’re afraid of changing. This not only causes a downturn in productivity, but it also means that many workers are foregoing raises and other benefits that often come with job shifts. It shows a fundamental lack of trust in the economic system and job market – people are terrified of a switch that may leave them worse off than they were before. It’s really thought-provoking to understand how the ways we think about employment fundamentally shift our entire society’s point of view. You can read more about this at The New York Times

Photo: A home in Detroit scheduled to be demolished. Image by Fabrizio Costantini/Bloomberg via NYT