Unemployment, Wages and Quits: Slack Labor Market

The headlines will go to the rising unemployment, but there’s other interesting labor market news.

Not a surprise, but the number of workers voluntarily quitting is down.  Folks are sticking with the devil they know (or at least the boss they know).

The slack labor market is reflected in modest wage gains:

Business Planning Implications:  If you need talent, this is a good time to pick it up.  Don’t dawdle.  Labor markets will tighten up next year.

Don’t forget that we’ll soon be entering the era of very slow gains in the labor force.  The current slackness should not lead to poor employee retention behavior.