Quit rates, unions, politics

I’m not sure what this means, but quit rates are higher in states that voted for Trump, and are higher in states with low unionization rates. We’ve been hearing for some time now that quit rates are the highest on record. That’s true if you look only at the Job Openings and Labor Market Turnover Series (JOLTS) numbers, which the Bureau of Labor Statistics (BLS) started reporting in December 2000. It had an ancestor, which the BLS reported for manufacturing only, covering 1919 to 1981 (left portion of the graph below). Current… Read More

Wild times in the job market

Millions of unfilled job openings, workers quitting en masse, soaring wages (at least in some sectors)—wild time in the job market. Here are some graphs to make the point. The Bureau of Labor Statistics does a monthly Job Openings and Labor Turnover Survey (JOLTS) that queries employers on unfilled openings, hires, firings, and quits. August’s data was released this morning, October 12. Here’s a graph of openings, expressed as a percent of current employment, in the private sector as a whole and in accommodations and food services (hotels, casinos, restaurants, and bars, hereafter… Read More