Wednesday, April 11, 2012
Yeay for the Quitters!
An interesting little tidbit out of the Labor Department (as reported by the Wall Street Journal), more people are quitting their jobs. Can this be good news? Yes, as people tend to hold onto jobs dearly during downturns in the economy, while in a healthy economy there is a large amount of 'churn,' people leaving one job for another. Churn is thought to be efficient in the sense that people with specific skills will keep moving to jobs where their specific skill set can be most productive: good for them, good for firms and good for the economy. Churn then is a sign of a healthy economy.