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The evidence summarized in Section I cuts against claims that American workers and families faced a rising tide of economic insecurity in recent years. There are many dimensions of economic insecurity, but the risk of job loss is usually seen as one of the major economic risks facing individuals. That particular risk has declined substantially. At a minimum, the long-term decline in job loss rates calls for some revision to alarmist views about rising economic insecurity for American workers and families. At least one major element of economic security has improved in recent decades.

The paper is in the Papers and Proceedings from the May 2008, American Economic Review, by Steven Davis. Here is the relevant chart:

 

job_loss.GIF

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