This analysis, using Current Population Survey data, yields statistically compelling evidence that cyclical variations in gross flows of U.S. workers-that is, variations by business cycle phase in the number of workers transitioning from one labor market state to another each month-were...

Since the early 1980s, the U.S. economy has experienced a growing wage differential: high-skilled workers have claimed an increasing share of available income, while low-skilled workers have seen an absolute decline in real wages. How and why this disparity has arisen is a matter of ongoing...