Job(-switch) Friday! : The Indicator from Planet Money It's time for our favorite Friday of every month: Jobs Friday! This week, we look at job switching and what it reflects about the tightening labor market.
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Job(-switch) Friday!

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Job(-switch) Friday!

Job(-switch) Friday!

Job(-switch) Friday!

  • Download
  • <iframe src="https://www.npr.org/player/embed/785651134/785670287" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript
Nora Carol Photography/Getty Images
Workers are quitting jobs at higher rates than in recent years.
Nora Carol Photography/Getty Images

If anyone had trepidation about the U.S. labor market, the November jobs report is here to allay their fears. The U.S. economy created 266,000 jobs, and the unemployment rate is back down to 3.5%, a 50-year low.

In such a tight labor market, it's not surprising that the quits rate is also steadily rising. Currently, the quits rate is 2.3%, which means every month 2.3% of U.S. workers are quitting their jobs, the vast majority of them for a new job. What does this trend mean for the economy?

To read more on this, check out these links:

https://obamawhitehouse.archives.gov/sites/default/files/docs/2015_erp_chapter_3.pdf

https://www.chicagofed.org/~/media/publications/chicago-fed-letter/2015/cfl337-pdf.pdf

https://www.brookings.edu/wp-content/uploads/2016/03/molloytextspring16bpea.pdf

https://twitter.com/marthagimbel/status/1042784926465187841?s=20

https://www.federalreserve.gov/Pubs/feds/2012/201273/201273pap.pdf

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