The Great Reallocation: Can Worker Churn Explain the Productivity Burst?  

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Sectoral employment shares have fluctuated wildly during the pandemic 

Remember when COVID-19 first took the world by storm, bringing the global economy to a screeching halt? The labor market was thrown into chaos, with some industries bearing more of the brunt than others. Among the hardest hit were the hospitality and food service sectors, in which countless workers found themselves jobless overnight.  

Then, the vaccines arrived, offering a beacon of hope and a chance for economic revival. As the world economy began to recover and the intermittent lockdowns ended, the hospitality industry began to thrive again. Consumers were trying to

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