Stage Is Set for Higher Wage Growth
As employers continue to deplete the pool of available workers, labor scarcity will likely result in better wage growth in the U.S.
Roland Czerniawski: The Job Openings and Labor Turnover Survey is an important metric that can help us understand the underlying conditions in the jobs market, and it is commonly used by the Fed to measure the level of labor-market tightness. Today, we'll look at the trends in these numbers since 2001.
The chart consists of three main categories. Job openings are represented by the blue line, new hires are shown in green, and voluntary quits are in dark red. All three metrics are measured in thousands of workers and are seasonally adjusted.
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