Despite corporate downsizing and the rise of Silicon Valley, career-type employment practices remain prevalent in the United States. Evidence to support this claim is drawn from a variety of data on employee tenure and mobility; job creation and job quality; employer responses to labor-market tightness; and benefit and pay structures. Yet while career jobs are not dead, employees today bear more ... [Show full abstract] risk, such as risk of job loss and of pay fluctuations. This is an important change. But it would be a mistake to think that employers will ask employees to shoulder ever-larger amounts of risk. That is because there are limits—economic, demographic, and political—to the risk-shifting process.