In my work on public employee pay, one factor I’ve paid particular attention to is job security, the fact – and it is a fact – that public employees are significantly less likely to be fired or laid off than similar private sector workers. This effective insurance policy against unemployment has a value to workers. But sometimes it’s assumed that job security is a freebie that has no cost for government or the public. A new study from Thomas Dee of Stanford and James Wyckoff of the University of Virginia shows why that’s not true.
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