Americans Are Quitting their jobs in Record Numbers

If you are on a job hunt here is a good news for you: The number of Americans who voluntarily quit their jobs in a nine year high.

About 3.1 million Americans left their positions in December, the highest number since the same time in 2006. That caused the quits rate a metric used by the federal reserve to measure confidence in the jobs market-to rise to 2.1%, its highest point since 2008.

Job openings in the U.S increase by 261,000 to a seasonally-adjusted 5.61 million in December,
according to labor department`s monthly job openings and labor turnover survey. That survey is among data monitored by the fed to gauge the state of the labor market and inflation.

The number of unemployed job seekers per open job, used to measure slack in the labor market fell to 1.4 in December, the lowest point since march 2007. That also contributed to a modest increase in wages.

According to the economist,The survey results follow Friday`s promising January jobs reports, Which showed a surge in wages and an eight-year low unemployed rate. the promising jobs data could help ease concern about the health of the U.S economy,whose growth is still slowing.


SOURCE: TIME.COM