May JOLTS report indicative of “uber-tight” US jobs market

04 July 2022

 

Summary: US quit rate eases in May; indicative of “still uber-tight labour market”; quits, openings down, separations up; bond yields drop on hawkish FOMC minutes, expectations of higher rates firm. 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 March 2020....

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