The idea that people are quitting jobs is a good sign. Generally it means they are taking a better job.Jobs openings increased in June to 4.671 million from 4.577 million in May. This is the highest level since February 2001.
The number of job openings (yellow) are up 18% year-over-year compared to June 2013.
Quits are up 15% year-over-year. These are voluntary separations.
It is a good sign that job openings are over 4 million for the fifth consecutive month, and that quits are increasing.
This is not generally been the story of the last few years. A study just came out saying that when jobs did come back they paid less.
If job openings keep rising, and employers need to compete that should lead to a rise in wages.Jobs growth in the U.S. since the 2008 recession has been undermined by lower wages, with workers earning an average 23 percent less than earnings from jobs which were lost, a report by an organization representing U.S. cities said on Monday.
The average annual salary in sectors where jobs were lost - particularly manufacturing and construction - during the 2008-9 financial crisis was $61,637, according to the report by the United States Conference of Mayors (USCM), which represents cities with populations of more than 30,000.
Job gains through the second quarter of 2014 in comparative sectors showed average wages of $47,171, implying $93 billion in lower wage income, the report said.