We feel a little funny writing this but what the heck — good news!
Americans are quitting their jobs fast and furiously. Turnover is increasing.
Actually, as it turns out this is fantastic news for the economy. In fact, we’re quitting our jobs at the fastest pace since early 2008!
This uptick can be a sign that wages are improving at long last. And as per a report issued late last week by the Labor Department, 2.8 million people quit their jobs in September.
This marks a 10 percent increase from August and, according to CNN, this represents the highest resignation rate since April 2008.
Sure, this number pales in comparison to the 1.6 million people who were forced to quit their jobs due to layoffs or terminations but let’s look at the big picture. People are likely resigning in order to pursue a better opportunity with a bigger paycheck.
Plus, we should point out the labor report revealed 4.7 million job openings in September which is close to the 13-year high (let’s repeat that: 13-year high!) our economy hit in August.
Needless to say, we’re really looking forward to hopefully seeing additional positive numbers in the monthly jobs report in a few weeks!