Workers are quitting their jobs at the highest rate in two decades. That shows optimism about the labor market but is a worry for employers that are already struggling to find enough staff. The so-called quit rate is highest in low-wage industries…dining, retail, transport and warehousing, manufacturing, etc. The trend is strongest in the South, whereas the quit rate is lowest in the Northeast.
Greater willingness to give notice means employers will have to pay more to retain the employees they need…yet another force pushing overall prices higher.
Source: The Kiplinger Letter • Vol. 98, No. 24 • Washington, June 18, 2021