Is job stability declining in the U.S. economy?

Using Current Population Survey data, the authors examine changes in job stability during the 1980s. For consecutive four-year periods during 1979-91, they present estimates of four-year retention rates for workers with varying levels of employer-specific seniority. Retention rates of low-seniority workers rose between 1979-83 and 1983-87 but fell between 1983-87 and 1987-91. Retention rates for 1987-91 were typically lower than those for 1979-83, suggesting a secular decline in job stability during the 1980s. (Abstract courtesy JSTOR.)