Some more good employment news, following on the heels of last week's jobs report: More Americans were hired to start a new job in February than in any month since before the recession that began in 2007—about 5.4 million people, according to the Labor Department's Job Openings and Labor Turnovers Survey.
Yesterday’s report also showed an increase in the number of people who voluntarily quit a job in February, which rose to about three million from 2.9 million. Labor economists generally regard the overall rate of quitting as a sign of the labor market’s health. When the economy is thriving, more people have the opportunity or the confidence to search for a better job.
Today’s report also shows a continued low rate of layoffs. The layoff rate in February was 1.2 percent of workers, close to the record low of 1.1 percent. Unlike during the recession, the majority of workers who leave a job today do so of their own accord.