Few Americans tell their boss that ‘I quit’, but the economy is still struggling with the jobs that are going to beg.
The U.S. economy is still heavily on the job market, which the government revealed on Wednesday, but few Americans are telling their boss “I have resigned.”
A recent study by the Job Openings and Labor Turnover Survey (JOLTS) from the US Department of Labor showed that job vacancies rose by 431,000 in October to 11 million – within the 11.1 million long hair that came in July.
But the number of Americans who quit their jobs dropped by 200,000 in October to 4.2 million – lowering the metric since September.
Customer-focused accommodation and food service have seen a significant increase in job opportunities, while governments and non-governmental organizations have declined sharply.
In terms of retrenchment, transportation, warehousing and logistics saw a sharp decline in the number of outgoing workers, while states and non-academic governments rose sharply.
The high number of jobs going to the US has made it possible for workers to become motorists for the first time in decades, with many businesses raising wages and increasing profits to attract missing job seekers.
But financial assistance from the federal coronavirus-epidemic aid that allowed workers to decide how to proceed is dwindling when the benefits of federal unemployment end in September.
When the US made disappointing 210,000 employment last month, the number of people working or looking for work has risen to 61.8 percent.
Although hourly pay (AHE) payments continue to rise last month, wages are not rising sharply to keep up with rising prices. And some economists are seeing a rise in wages this year.
“The decline in the retirement rate could help AHE growth in October and November slow down, and support our view that wage growth will be cool now that unemployment benefits are gone,” said Goldman Sachs economists in a letter to clients. . Wednesday.
What is the value of each hour and the open question. A survey of 48 economists published Monday showed that almost two-thirds of those expected rising wages for inflation over the next three years.
The US economy is still working on nearly four million jobs without wanting to recover from its epidemic since February 2020 – and that doesn’t mean growth in labor.
There are a number of factors that are believed to be contributing to the decline in the number of available workers, from fear of taking COVID-19, to older workers who choose to retire early, Americans simply thinking of quitting their jobs and opening their own businesses. .