Quit rate slips in July; “more aggressive” Fed expected

30 August 2022

 

Summary: US quit rate slips in July; bond yields almost unchanged, expectations of higher rates firm; “no signs” of cooling labour market, Fed “needs to be more aggressive”; quits, separations down, openings up. The number of US employees who quit their jobs as a percentage of total employment increased slowly but steadily after the GFC. It peaked in March 2019 and then tracked sideways until virus containment measures were introduced...

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