Aggressive rate rises curbing worker demand; US quit rate down up March

02 May 2023

 

Summary: US quit rate falls to 2.5% in March; NAB: diminishing prospects of switching to higher paying jobs; US Treasury yields down considerably ; expectations of lower rates firm; quits, openings down, separations up; ANZ: aggressive rate tightening starting to curb demand for workers. 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...

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