People Are Quitting Their Jobs — a Good Sign for the US Economy

  • Record-high quits suggest Americans are confident in their ability to find better jobs.
  • The unusual labor market trend may give way to several encouraging developments for the US economy.
  • Here are four reasons the quits surge could benefit the US, from higher pay to a productivity revolution.
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On the surface, the labor market hasn’t been making much sense.

Take April for example: Ten million Americans were unemployed, even though nearly that same number of jobs were open (9.3 million, a record high). That same month, hiring slowed to a crawl and 4 million more people quit their jobs (another record high). That sum could grow even larger; roughly 40% of employees have considered quitting, according to a…

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