Jobs rise in July, but low 'quit rate' tells another story

[alp227]

From Friday's PBS Newshour:

July was the sixth month in a row that the economy expanded by more than 200,000 jobs, with growth in a variety of sectors. But despite the good news, there may be other trends that tell a more troubling story, like the low number of people quitting jobs to find better ones -- a possible factor in U.S. wage stagnation. Economics correspondent Paul Solman reports.

Read transcript.

[merrily]

1. I remember when I thought math was a science and numbers were

a lot less open to interpretation than poetry.

[littlemissmartypants]

2. ..

And weather was not scary.

I remember that too.

My how times change.

[IronLionZion]

3. I just got a new job

I had a job in the wrong field with a multi-hour commute but kept applying for something better. Once I got a new job in the right field, right commute, and a big bump in pay, I quit my old job. The old company was big and had been having layoffs. The new company is small and growing, which has it own risks. Quite a few of my friends left big companies and joined small firms because health insurance isn't an issue thanks to the ACA. Small companies often have a much faster hiring process since there is less overhead and more urgent needs.

Around DC for consulting/contracting, there seems to be a trend towards small companies winning small projects. Probably as an effect of the austerity measures and budget cuts of the past few years. Big companies are not getting the big contracts they used to.

RepubliCONs are deliberately obstructing economic growth out of spite. And then they'll blame obamacare. Even though a lot of people did retire or quit earlier this year because of the PPACA.