During good economic times, people feel comfortable quitting a job because they believe that they can soon find another job. On the flip side, when there are layoffs during economic downturns, few are bold enough to risk jumping ship.
Furthermore, "the quits rate tends to be a leading indicator of wage growth," as Deutsche Bank economist Joseph LaVorgna points out. "As the chart below illustrates, the quits rate historically leads the change in average hourly earnings of production and non-supervisory workers by three quarters."
Furthermore, "the quits rate tends to be a leading indicator of wage growth," as Deutsche Bank economist Joseph LaVorgna points out. "As the chart below illustrates, the quits rate historically leads the change in average hourly earnings of production and non-supervisory workers by three quarters."
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