Economists, seeking a sign
Of the end of employment decline,
Infer a renewed
And more confident mood
If more workers decide to resign.
America needs more quitters! That's the message from the Wall Street Journal's Kelly Evans in her Ahead of the Tape column. The quit rate (= numbers of quitters per month / total work force) has not moved up very much from its 2009 low of 1.3%, but a higher rate would signal more confidence in the job market. Yesterday's announcement of the Labor Dept's Job Openings and Labor Turnover Survey, however, shows that quitters have not yet given the economy the needed "JOLTS"; rates of hiring and quitting remained unchanged in December.
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