“Take This Job and Shove It”
This is the title of a 1977 country music song written by David Allan Coe and popularized by Johnny Paycheck.
In January 2017, the number of people quitting their jobs rose to a seasonally-adjusted total of 3.22 million, the highest number since February 2001.
The new high in job quitters comes following a number of data points that, in aggregate, suggest that the U.S. economy continues to strengthen.
An upward trend in job quitting is generally seen as a sign of confidence among workers. It would be logical to assume that most workers, who choose to quit the job they have, are reasonably certain that they can find another one.
Recent data suggesting that consumer confidence remains strong, would seem to further indicate that there is a generally upbeat outlook among workers and consumers.
All comments and suggestions are welcome.
Walter J. Kirchberger, CFA®