The Great Recession had a tremendous impact on low-income Americans, in particular black and Latino Americans. The losses in terms of employment and earnings are matched only by the losses in terms of real wealth. In many ways, however, these losses are merely a continuation of trends that have...

Using the Panel Study of Income Dynamics, we investigate occupational and industrial mobility of individuals over the 1969-1980 and 1981-1993 periods in the U.S. We find that workers changed both occupations and industries more frequently in the later period. For example, occupational mobility...