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Americans quitting jobs at higher rates is a sign of a strong, growing economy. It may not sound like it, but if people are quitting one job to move to something better, and\/or get a better offer than where they are now, it is accompanied by an increase up to 3.5% in wages this year.<\/p>\n
https:\/\/finance.yahoo.com\/news\/americans-continue-quit-jobs-droves-233210503.html<\/a><\/p>\n From the article: \u201cif you\u00a0track non-supervisory wage growth alongside<\/a>\u00a0the quits rate in the food services business, you get a pretty good sense of where wages are going \u2014 up. In October, average hourly earnings for all employees rose 3.1% and for non-supervisory workers wages rose 3.2% over last year. These were the highest readings since the spring of 2009, when wages were on the way down as the post-crisis recession deepened.\u201d<\/p>\n So the guy who is slapping beef on the grill at Burger King while he\u2019s in cooking school at a local college or trade school, with dreams of opening his own burger and hot dog joint, quits because he got a better offer and can still go to school.<\/p>\n Hey, there\u2019s a local Dog \u2018n\u2019 Suds for sale not too far from where I live, if anyone is interested. The owner wants to retire and the people who work there stay there. It\u2019s one of the few left from the old-timey drive-in where you ate hot dogs and fries in your car with a tray hung on the window. If they ever bring back drive-in movies, someone please let me know?<\/p>\n But that\u2019s not all. Despite the need to obscure the message in doublespeak like Yellin used to do, Fed Chairman Powell\u2019s speech at the Economic Club of New York last week indicates that \u201cinterest rates are just below\u201d the level that is neutral for the economy.<\/p>\n
![track non-supervisory wage growth alongside<\/a>\u00a0the quits rate in the food services business, you get a pretty good sense of where wages are going \u2014 up. In October, average hourly earnings for all employees rose 3.1% and for non-supervisory workers wages rose 3.2% over last year. These were the highest readings since the spring of 2009, when wages were on the way down as the post-crisis recession deepened.\u201d<\/p>\nSo the guy who is slapping beef on the grill at Burger King while he\u2019s in cooking school at a local college or trade school, with dreams of opening his own burger and hot dog joint, quits because he got a better offer and can still go to school.<\/p>\nHey, there\u2019s a local Dog \u2018n\u2019 Suds for sale not too far from where I live, if anyone is interested. The owner wants to retire and the people who work there stay there. It\u2019s one of the few left from the old-timey drive-in where you ate hot dogs and fries in your car with a tray hung on the window. If they ever bring back drive-in movies, someone please let me know?<\/p>\nBut that\u2019s not all. Despite the need to obscure the message in doublespeak like Yellin used to do, Fed Chairman Powell\u2019s speech at the Economic Club of New York last week indicates that \u201cinterest rates are just below\u201d the level that is neutral for the economy.<\/p>\nhttps:\/\/finance.yahoo.com\/news\/powells-comments-mattered-week-205435592.html<\/a><\/p>\nThis inferred to investors that there is a possibly less aggressive path for interest rate hikes next year. Does this matter to you? Yes, it does. Look at the interest rate charged on your credit card bill. If you keep the old ones, go back a few years and look at those rates. They\u2019ve creeped up somewhat in a sneaky way.<\/p>\nObviously, over time, things can change. We\u2019re in a stable growth period now and we need to stay there. If economic growth now is stable enough for people to change jobs with confidence, we want it to stay that way.<\/p>\n","protected":false},"excerpt":{"rendered":"Americans quitting jobs at higher rates is a sign of a strong, growing economy. It may … And Still Growing….<\/span>Read more<\/a><\/p>\n","protected":false},"author":653,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-83247","post","type-post","status-publish","format-standard","hentry","category-economy"],"_links":{"self":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts\/83247","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/users\/653"}],"replies":[{"embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=83247"}],"version-history":[{"count":0,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts\/83247\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=83247"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=83247"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=83247"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/fred.stlouisfed.org\/graph\/fredgraph.png?g=lVcO\"){kind=link}