Starting a career in a dying industry costs you a year's pay

A new study in Norway measured what happens to workers who start their careers in industries that later shrink. It turns out they earn about a year less pay over their working lives compared to others.

Everyone knows some jobs disappear, but it is hard to put a number on the cost to individual workers. This paper shows that starting in a declining field means a measurable hit to your lifetime earnings. It gives career counselors and education planners a concrete figure to consider when advising young people.