In a truly awful job market, employees will put up with all manner of indignities managers subject them to. When things are OK, people start to stand up for themselves and walk away, confident in their prospects. That’s why it may be good news for the economy that the number of people who quit their jobs surpassed the amount of layoffs in February.
CNBC cites the government’s Job Openings and Labor Turnover Survey, which says quitters made up 51 percent of total job separations that month. The last time quitters were more numerous than layoff victims was September 2008.
Combined with the fact that jobless claims matched their lowest point in four years, perhaps the jobs market is creeping back up toward respectability. Maybe pay raises and respect from superiors will follow along at some point.