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What to Know: Here’s some positive economic news, though it might not appear to be so at first. In September, 3.6 million Americans quit their jobs.
“Quits are seen a positive economic indicator, with the thinking being that folks won’t leave a job unless they are reasonably confident they could easily get another one,” Yahoo Finance explains. “With the unemployment rate currently at 3.7% and the economy continuing to create in excess of 200,000 jobs per month, the headline data about the labor market suggests things are very good for American workers right now. The quits data add more depth to that assertion.”
The TPPF Take: Quits are a sign of a healthy economy and confident workers. They’re also an indication that wages are rising.
“People leave their jobs for better opportunities, a better match to their skills and better pay,” says TPPF’s Vance Ginn. “Those are all positive things. People are confident enough in the economy and their own abilities that they’re willing to take a few risks. They’re simply looking to prosper.”
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