US job quits rate hits 17-year high; labour market tightening
Updated : July 10, 2018 11:37 PM IST
In its monthly Job Openings and Labor Turnover Survey, the Labour Department said the number of workers leaving jobs of their own free will increased 212,000 to 3.3 million.
The rise in the quits rate, which policymakers and economists view as a measure of job market confidence, bolsters expectations that wage gains will accelerate this year.
Annual wage growth as measured by average hourly earnings has struggled to break 3%, increasing 2.7% in June.
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