Experts say people quitting their jobs could be a good sign that people have confidence in the labor market.
New York state saw hundreds of thousands of people quit their jobs during the first three months of the year, which some experts say could be an indication that workers are confident that they can find new employment in a labor market that offers opportunities for new work.In the three months to start 2024, 510,000 New Yorkers left their jobs, according to data from the U.S. Bureau of Labor Statistics . As of March 2024, the quitting rate in the state was at 2 percent.
ViewsPeople quitting their jobs tends to be a sign that they are confident that they can find new work and is an indicator of a strong labor market for workers.'If they quit their job, they must have found a new job,' Helana Natt, executive director at the Greater New York Chamber of Commerce, told Newsweek. 'It says that the economy is booming.' The chamber represents 30,000 business and civic leaders in the New York metropolitan area.
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