Economics & Finance / Macroeconomics / Unemployment & Labor Markets

Why 60% of Construction Workers Quit Every Year? The Shocking Truth About Productivity

Think construction is stable? Think again. In New Zealand, 60% of job-worker matches vanish every year. This isn't chaos—it's the hidden engine of productivity. Based on a groundbreaking study by Nathan Chappell, Adam B. Jaffe, and Trinh Le from NBER, this video reveals how worker turnover and new business entry actually make construction firms more efficient. Discover why hiring from high-productivity rivals boosts your own output by 0.6%, why startups initially struggle but then dominate, and how the 'creative destruction' of failing firms fuels the entire industry. If you're in business, economics, or just curious about how the real world works, this will blow your mind.