QUANTITATIVE QUITTING – 5/9/22

In March, the number of job openings hit 11.55 million, the highest level ever, while the number of unemployed persons was 5.95 million, meaning there are 1.94 jobs/job seeker, staggering! With so many openings, the number of quits (all of whom get another job) set a record at 4.536 million; 3% of those employed. In a labor market this tight, wages will keep rising. Rate hikes are the only solution. (Source: Dr. Elliot Eisenberg, the Bowtie Economist).

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