Americans continue to quit their jobs in drovesNovember 7, 2018In September, 3.6 million people quit their jobs, just below the record high 3.65 million job quitters we saw in August.
Quits are seen a positive economic indicator, with the thinking being that folks won’t leave a job unless they are reasonably confident they could easily get another one.With the
unemployment rate currently at 3.7% and the economy continuing to create in excess of 200,000 jobs per month, the headline data about the labor market suggests
things are very good for American workers right now. The quits data add more depth to that assertion.
Looking below the headline quits numbers and the picture gets even better. And portends more wage growth.
In October,
average hourly earnings for all employees rose 3.1% and for non-supervisory workers wages rose 3.2% over last year. These were the highest readings since the spring of 2009, when wages were on the way down as the post-crisis recession deepened.
For years, economists have said that wage growth was the missing element of the post-crisis recovery. But now,
wage growth appears to be here.
https://www.yahoo.com/finance/news/americans-continue-quit-jobs-droves-233210503.html
