layoffs

 February 17th 2016 - Written by: Michael O'Donnell

US Layoffs and Quits

Although the US economy ended 2015 on somewhat shaky footing, several measures of the┬álabor force are still improving. In particular, the data show that while there has been no upward movement in employer layoffs for several years, voluntary quits have been increasing since 2009. In fact, in December 2015, voluntary quits totaled nearly 3.1 million, which just about equals levels prior to the Great Recession. Voluntary quits are seen as a measure of labor market optimism (as labor market opportunities increase, voluntary quits increase) and an increase in the series is encouraging. Layoff and quit data are produced by the Bureau of Labor Statistics’ Job Openings and Labor Turnover Summary (JOLTS) program; the most recent data can be found┬áhere.