Experts are saying that the reason behind young professionals not earning enough is that they are not switching job enough.
According to Mirror, these young workers are earning less despite growth in employment because they don't switch jobs enough. It is reported that the number of times employees move from one role to another has also fallen. They said that the young workers' pay can reach up to 3% higher if job mobility had not slowed.
Job mobility is defined as the frequency in where people move from one job to another. This is said to be a deciding factor in terms of faster earnings growth.
Laura Gardiner, Resolution Foundation's senior policy analyst, said: "Frequent job moves are the main route to the rapid pay increases young people should experience as they begin their working lives, so it is a real concern that job switching slowed down for all groups, and particularly for young people, even before the recession hit.
"Unpicking the reasons why young people are staying put in their jobs for longer is crucial to understanding whether job switching can return to its previous level, or whether we are seeing a 'new normal' of fewer job moves and subsequent slower pay growth for generations to come."
The report states that the lesser the young people switch jobs the more the possibility of a pay squeeze. This, in turn, could slash their earnings potential in the labor market.
Gardiner is therefore encouraging these young professionals who belong to the "Millennial generation" to switch jobs more often and avail of the chance to earn more.
"Unless we want to see a long term scarring effect on the wages of future generations, Millennials must regain confidence and increase the frequency with which they move jobs, and firms must be more willing to take them on," she said.
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