New research from the Central Bank of Ireland finds that people who change jobs receive a wage premium of between 2.3% and 2.4% in the three months immediately following their move. The study, using data from the Labour Force Survey (LFS) linked to administrative data on individual earnings, suggests job switching is particularly beneficial during tight labour markets.
Labour Force Survey data suggests job switching is ‘important mechanism for wage growth ’, especially in tight labour market s
Job switching “appears to be an important mechanism for wage growth”, especially during times when labour markets are tight, the research technical paper by Central Bank economist Enda Keenan found. This raw wage premium for job switchers – which excludes other factors – was estimated to come in at an average of 5.9 per cent between 2019 and 2023, the paper found, though that declined over the period as the labour market softened.
Analysis by age shows that younger workers experience the largest changes for both switchers and stayers.
WAGE GROWTH JOB SWITCHING LABOUR MARKET ECONOMICS IRELAND
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