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WSJ — Markets — Economy — Heard On The Street — Inflation — Wages

You Can’t Fire Them, They Quit

The Labor Department reported that the number of unfilled jobs in the US at the end of January slipped to 10.82 million. Wage growth for workers switching jobs was 7.7% as of January. The Federal Reserve will worry that wage gains could fuel inflation and raise rates until the economy has cooled.

1 min read
  • The Labor Department reported that the number of unfilled jobs in the US at the end of January slipped to 10.82 million.
  • Layoffs and discharges during January picked up to 1.72 million.
  • The number of workers quitting their jobs in January was 3.88 million.
  • Wage growth for workers switching jobs was 7.7% as of January.
  • The Federal Reserve will worry that wage gains could fuel inflation and raise rates until the economy has cooled.
You Can’t Fire Them, They Quit
Wage growth for people switching jobs is strong, but it could spook the Fed
WSJJustin Lahart

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