More Workers Are Telling Their Employers to Take This Job and Well, You Know…
The job picture might look bleak overall, but there are a lot of positive signs that things could be turning around.
One of the most interesting indicators are the number of workers who are quitting their jobs.
The Department of Labor has released a report that found that more than two million American workers put in their two weeks notice for the month of February. It's the highest rate of quitters since November of 2008.
One might think that workers leaving the workforce en masse would spell certain doom for an already floundering economy, but some economists and strategists believe it's actually very encouraging news for an uncertain economy.
When the economy is slow, there is a lot more worry about employment and people are less likely to leave their job, even if the conditions and income don't meet their requirements. Leaving a job during such uncertain times is harder to do because there may not be a job when they walk out of the door. So, an increase in quitting means that economic confidence could be starting a slow, steady turn out of choppy and uncertain economic waters.
More quits can also help create something called "churn" that can help drive job markets and reduce unemployment. When workers are afraid to leave their job in search of a better opportunity, they don't open many opportunities for those who are looking. So quitting can actually help facilitate growth by creating jobs for people who need them.
News of more people quitting comes on the heels of news that more people are suing their employers for being forced to work overtime after their companies laid off other workers.