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rurallib (35,561 posts)Quotehttp://finance.yahoo.com/news/people-quitting-jobs-good-news-170100942.html The Federal Reserve Board Chair watches a lot of economic data as she and her colleagues on the Federal Open Market Committee make their decisions about setting interest rates and winding down the current economic stimulus program. One of the data points that Yellen has said she pays attention to is the rate at which workers quit their jobs. It may seem counterintuitive, but in the Fed’s view, it’s a good sign when an increasing number of people voluntarily leave their jobs. The thinking is that when jobs are scarce and people are worried about finding work, they are less willing to abandon an existing employment arrangement. <<snip>> Speaking at the annual Fed conference in Jackson Hole, Wyoming, last week, Yellen said, “The quits rate has tended to be pro-cyclical, since more workers voluntarily quit their jobs when they are more confident about their ability to find new ones and when firms are competing more actively for new hires. Indeed, the quits rate has picked up with improvements in the labor market over the past year, but it still remains somewhat depressed relative to its level before the recession.†I believe this is something Yellen in particular has been watching for quite a while. So I hope she is right.
http://finance.yahoo.com/news/people-quitting-jobs-good-news-170100942.html The Federal Reserve Board Chair watches a lot of economic data as she and her colleagues on the Federal Open Market Committee make their decisions about setting interest rates and winding down the current economic stimulus program. One of the data points that Yellen has said she pays attention to is the rate at which workers quit their jobs. It may seem counterintuitive, but in the Fed’s view, it’s a good sign when an increasing number of people voluntarily leave their jobs. The thinking is that when jobs are scarce and people are worried about finding work, they are less willing to abandon an existing employment arrangement. <<snip>> Speaking at the annual Fed conference in Jackson Hole, Wyoming, last week, Yellen said, “The quits rate has tended to be pro-cyclical, since more workers voluntarily quit their jobs when they are more confident about their ability to find new ones and when firms are competing more actively for new hires. Indeed, the quits rate has picked up with improvements in the labor market over the past year, but it still remains somewhat depressed relative to its level before the recession.â€
It may seem counterintuitive, but in the Fed’s view, it’s a good sign when an increasing number of people voluntarily leave their jobs. The thinking is that when jobs are scarce and people are worried about finding work, they are less willing to abandon an existing employment arrangement.
No, there's a rational explanation for Yellen's position in the Yahoo excerpt, but I think the basis of her analysis is outdated, since under Obama the rolls of the entitlement programs have completely exploded, so what it meant historically is not necessarily what it means now. A lot of those quits from low-paying jobs have to do with people getting their support needs met by EBT card and disability claims.
It's possible that people are quitting one of their part time jobs and this is being counted. I imagine the burn out rate is very high when you work two jobs to make ends meet in this crappy Oconomy.
I think that EBT is better than the minimum wage in 35 states. Why bother working if the government is paying you just to exist, more than what you'd be getting if you actually worked for a living?
