Goldman: "Quits and Gross Hiring Are Mostly Back to Normal"

A few excerpts from a research piece by Goldman Sachs economist Daan Struyven: Quits and Gross Hiring Are Mostly Back to Normal Two years ago, Fed Chair Janet Yellen introduced a "dashboard" of labor market indicators that included two measures of worker flows, the hiring rate and the quit rate. At the time, these two measures reinforced the case that there was more labor market slack than the headline unemployment rate suggested. Today, the hiring and quit rates have recovered substantially to levels nearly in line with historical averages and consistent with the current U6 underemployment......(read more)

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