VGSH - Subtle Signs Of A Cooling Jobs U.S. Market Will Aid The Fed's Inflation Fight

2024-04-02 15:00:00 ET

Summary

• The number of job vacancies remains elevated, but is moving into better balance with the supply of available workers.
• A slowing quit rates suggests a broader cooling is happening, which implies a moderation in labour cost growth that will help ease broader inflation fears.
• The quits rate – the proportion of workers quitting their job to move to a new employer – remained at 2.2% nationally and at 2.4% for the private sector.

By James Knightley

The February Job Opening and Labour Turnover Statistics shows that there remains a large number of job vacancies out there, but the low quit rate implies they are not necessarily particularly attractive. Quit rates at current levels imply that labour market cost pressures will continue to cool, which should help to keep inflation trending towards 2%....

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