Job hopping? That's so 2022.

People seem to be more skittish about just up and quitting. They’re holding onto jobs a bit more tightly than a year ago.

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Holding on
Welcome to the Know the Difference Minute for Tuesday, August 29th.
Job openings decreased in July according to the Bureau of Labor Statistics. Openings over the last year have fallen most in mining and logging and professional and business services. They’ve increased in information technology, transportation and warehousing, and leisure and hospitality. The hot job market depends on where you are and what you do.
People seem to be more skittish about just up and quitting. They’re holding onto jobs a bit more tightly than a year ago. As with most economic statistics over the last few years, it’s been an unusual return to normal with some areas of the economy getting back to normal faster than others. Of course, nobody really knows what’s normal these days.
Historical averages are useful to look at, but future averages could be quite different. And there are lots of differences of opinion about that.
I’m Brian Jacobsen, Chief Economist at Annex Wealth Management. That is your Know the Difference Minute.