I read the 28.4% figure as wages not keeping up with inflation. Maybe there is some expectation of incoming unemployment, but I wouldn’t discount people looking to find a higher paying job.
Fair. This is just one data point but given that the quits rate has fallen quite quickly and is now well below the pre-pandemic average (2017-2019) suggests to me that jobs are not plentiful and that might also explain a jump in job seekers (more time needed to find and quit).
Also, when more people expect to lose a job relative to finding one it is a sign of upcoming unemployment.
I read the 28.4% figure as wages not keeping up with inflation. Maybe there is some expectation of incoming unemployment, but I wouldn’t discount people looking to find a higher paying job.
Fair. This is just one data point but given that the quits rate has fallen quite quickly and is now well below the pre-pandemic average (2017-2019) suggests to me that jobs are not plentiful and that might also explain a jump in job seekers (more time needed to find and quit).
Also, when more people expect to lose a job relative to finding one it is a sign of upcoming unemployment.