“First meaningful sign” of cracks in US jobs market: August JOLTS

04 October 2022

 

Summary: US quit rate steady at 2.7% in August; US bond yields fall substantially, expectations of higher rates firm; “first meaningful sign” of cracks in labour market; quits, separations up, openings down. 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 in...

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