Amid a tight labor market, many were also able to find a better job, with better pay. The combination of a tight labor market and structural change from the pandemic catalyzed job reshuffling over the past three years, he said. The BLS shows the rate of job growth is up in the construction, manufacturing, health, education and food services industries. Despite the apparent end of the Great Resignation, the job market continues to hum along; the US economy added 339,000 jobs in May. The fact that quit rates are down indicates that there’s low confidence in the job market,” Kriegel said.

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Persons: ”, Nicholas Bloom, that’s, “, Bloom, Nick Bunker, Jessica Kriegel, ” Kriegel, Bunker, “ There’s, there’s, ” Bunker Organizations: Los Angeles CNN, Federal Reserve, Stanford University, Bureau of Labor Statistics bolsters, Labor, BLS, Federal Reserve Bank of, Conference Board, Bed, Stanford, Workers, Gallup, Bank of America, Georgetown University Locations: Federal Reserve Bank of Atlanta