People Are Quitting Their Jobs. That’s Good News.

[rurallib]

http://finance.yahoo.com/news/people-quitting-jobs-good-news-170100942.html

The Federal Reserve Board Chair watches a lot of economic data as she and her colleagues on the Federal Open Market Committee make their decisions about setting interest rates and winding down the current economic stimulus program. One of the data points that Yellen has said she pays attention to is the rate at which workers quit their jobs.

It may seem counterintuitive, but in the Fed’s view, it’s a good sign when an increasing number of people voluntarily leave their jobs. The thinking is that when jobs are scarce and people are worried about finding work, they are less willing to abandon an existing employment arrangement.

<<snip>>
Speaking at the annual Fed conference in Jackson Hole, Wyoming, last week, Yellen said, “The quits rate has tended to be pro-cyclical, since more workers voluntarily quit their jobs when they are more confident about their ability to find new ones and when firms are competing more actively for new hires. Indeed, the quits rate has picked up with improvements in the labor market over the past year, but it still remains somewhat depressed relative to its level before the recession.”

I believe this is something Yellen in particular has been watching for quite a while. So I hope she is right.

[Vincardog]

1. Or maybe people are finding their slave labor arrangements intolerable.

[Warpy]

3. When all that's available to you is slaving for less than subsistence under a psycho boss

you tend to hunker down and try to keep a low profile.

When conditions ease enough that there are a few jobs that either pay enough to live on or don't feature psychopaths promoted because corporate suits think psychopaths get more work out of the lazy poor folks they employ and underpay, you tend to hand your notice in. Or flounce out the door if the boss is crazy enough.

Yellen is correct. When people feel confident enough to quit intolerable jobs, that's progress. I'm sure this will get a lot of shrieking from the Idiot Far Right.

[Vincardog]

4. I HOPE thing are improving enough that people can sell their Psycho boss to STFU

[Warpy]

7. The improvement is likely from ACA

because Republicans are blocking minimum wage hikes like they block everything that the American people need.

Too bad they don't realize that lifting people out of poverty via wages is a good thing that will spread out throughout the economy.

[Vincardog]

8. They can't realize that because they are psychopaths who believe in a Zero Sum Game

In their tinny little minds Every extra penny in anyone else's
pocket is one less penny in theirs.

[jwirr]

9. Yes, this was predicted. People would be able to quit that second job they had to pay for healthcare

and also because ACA allows you to change jobs without losing healthcare.

Also in the case of raising the minimum wage some may have been able to quit one of their jobs.

[Kalidurga]

2. I predicted this would happen when Obama Care was implimented

There were millions of people who kept jobs they didn't like because of health insurance and pre-existing conditions.

[Cleita]

5. That seems like it would be a factor encouraging

people to look for more suitable jobs.

[hobbit709]

6. sometimes people have had their belly full of eating shit and say fuck it and walk off.

[rurallib]

10. but most want to have options before they do.

This is just emerging as what we can hope is a trend.

[Art_from_Ark]

11. I saw that attitude a lot during the Reagan Recession

Management was so clueless about what the people on the production floor had to put up with that people just said screw it, and sometimes quit in the middle of a shift. For a while, there was a 98% turnover rate-- and that was during a recession.