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This open access book examines the economic, social, and
psychological consequences of manufacturing plant closure at the
individual level. Using an original data set of over 1,200 workers
from Switzerland who lost their manufacturing jobs after the
financial crisis of 2008, the author analyzes the determinants of
reemployment, the sector of reemployment, and the change in wages
over a two year period. In addition, coverage also explores how
plant closure affects the social relationship between a displaced
worker and his or her significant other, which includes a
discussion of the coping strategies on the household level as well
as how changes in a worker's social and occupational life affects
overall satisfaction. Readers will discover that the burden of
structural change disproportionately falls on the shoulders of
workers aged 55 and older who often face substantial barriers when
trying to return to employment. A larger portion of this group
experience long-term unemployment and those who do manage to find a
new job often suffer disproportionate wage loss. This result is
intriguing in the context of the current demographic change and
contradicts the common assumption that young and low-qualified
individuals are at greatest risk of unemployment. Advanced age-and
not low education-appears to be the primary obstacle to workers
finding job satisfaction after being laid off because of market
conditions.
This open access book examines the economic, social, and
psychological consequences of manufacturing plant closure at the
individual level. Using an original data set of over 1,200 workers
from Switzerland who lost their manufacturing jobs after the
financial crisis of 2008, the author analyzes the determinants of
reemployment, the sector of reemployment, and the change in wages
over a two year period. In addition, coverage also explores how
plant closure affects the social relationship between a displaced
worker and his or her significant other, which includes a
discussion of the coping strategies on the household level as well
as how changes in a worker's social and occupational life affects
overall satisfaction. Readers will discover that the burden of
structural change disproportionately falls on the shoulders of
workers aged 55 and older who often face substantial barriers when
trying to return to employment. A larger portion of this group
experience long-term unemployment and those who do manage to find a
new job often suffer disproportionate wage loss. This result is
intriguing in the context of the current demographic change and
contradicts the common assumption that young and low-qualified
individuals are at greatest risk of unemployment. Advanced age-and
not low education-appears to be the primary obstacle to workers
finding job satisfaction after being laid off because of market
conditions.
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