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July 10 2018

Good News: Americans Quitting Their Jobs at Record Rate

by Charlotte Hays

In the month of May Americans were quitting their jobs at a brisker pace than any time since 2001.

Explain: Why is this good news?

It's good news because the economy is strong and American workers are re no longer stuck in jobs.  And, as Market Watch notes:

Most workers who leave jobs voluntarily end up getting better pay or benefits elsewhere. More people are willing to make the switch when the economy is booming. ...

The economy is surging. Companies are hiring rapidly to keep up with demand for their goods and services and soon the unemployment rate could fall to levels not seen since the 1960s.

As the rising quits rate shows, more workers are striking out for better jobs or better-paying jobs, confident they’ll succeed. If more workers do that, it could force companies to raise wages faster to retain their best employees or to attract new ones.

What this shows is that policies have consequences.

During the eight years before the current administration, we constantly heard about a "new normal" of lower economic growth, and thus fewer job openings. But when regulations and tax burdens were reduced, the economy took off.

There can be many unexpected factors that can interrupt this growth. Some of us are concerned about tariffs.

What we've learned lately, however, is that, as a rule, the American  economy--and Americans--are capable of creating prosperity, if we let them.

And congrats to a lot of people who are no longer stuck in jobs they hate.

Independent Women's Forum is an educational 501(c)(3) dedicated to developing and advancing policies that aren’t just well intended, but actually enhance people’s freedom, choices, and opportunities. IWF is the sister organization of the Independent Women’s Voice.​
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