Word: moscarini
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...mass layoffs at blue chip firms are the ones that make headlines. New research suggests that in times of recession, large employers disproportionately lose workers, while small companies, as a group, fare better. "It's definitely the case that large firms are downsizing much faster in recessions," says Giuseppe Moscarini, an economist at Yale University who conducted the research with Fabien Postel-Vinay of the University of Bristol...
...Moscarini and Postel-Vinay have another theory. After observing the same broad trend within different industries and states, and even overseas in countries like Denmark and Brazil, they postulate that small companies hire disproportionately more early on in an economic recovery because it's easy for these firms to find good workers while unemployment is still high-and easy for workers to come across small companies since there are so many of them. Once the economy is chugging along at full-steam and the labor market is tight, larger companies regain the advantage, since they're likely able to offer...
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