|Credit: Bureau of Labor Statistics|
Americans are quitting their jobs like crazy, and this is good news for wages.
The latest monthly "Job Openings and Labor Turnover Survey" (JOLTS) showed that in December, the total number of quits was 3.1 million, the highest level in a decade, while the quits rate was 2.1%, the highest since April 2008.
This rate, which takes the number of quits divided by the number of employees who worked or were paid for work, is one of the labor-market metrics most closely watched by Fed chair Janet Yellen.I find it highly ironic that "the highest (quits rate) since April 2008" is "quitting their jobs like crazy", as opposed to, say, "quitting their jobs like people do during vaguely normal economic times" or "quitting their jobs when they're not scared that they will be homeless and jobless otherwise."
That said, it does appear to be true that job quits are at a local maxima. Anyone have any good stories of recent job quits, and why?