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Chicago Fed Letter, No. 136, December 1998
Recent Trends in Job Displacement

The news media often suggest that American workers have suffered a significant decline in job security during the 1990s. This perception is shared by many policymakers, who believe workers’ anxiety is a major reason wage inflation in the mid-1990s remained modest in the face of historically low levels of unemployment.

Federal Reserve Bank of Chicago, 230 South LaSalle Street, Chicago, Illinois 60604-1413, USA. Tel. (312) 322-5322

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