PinnedThe labor market is looking more like 2019 every month, and that’s not a bad place to be.
The share of people quitting their jobs, which surged during the pandemic, is back to 2019 levels.
A broad measure of wages, salaries and benefits known as the Employment Cost Index has been falling since early 2022.
Employment growth has been narrowing, with sectors like education, health care and government, which vary less with economic cycles, powering most of the gains.
Most of those displaced workers have shifted to positions where their skills are still needed, keeping joblessness in check — so far.
Persons:
that’s, “, ”, Satyam Panday
Organizations:
Labor Department, Bureau of Labor Statistics