The job market shows signs of ‘normalizing,' labor economist says — here's what that means for workers

The number of quits increased 18,000 for state and local government education, JOLTS data show.

While education is also highly cyclical, data has yet to show if this jump in quits was a seasonal impact or a long-term trend, Gould said. Positions in these lower wage sectors tend to have the highest turnover because workers can lose their jobs more easily, Gould said. Quit rates coming down in these sectors show that workers may not see other opportunities to pursue.

The Black unemployment rate serves as an indicator for signs of trouble, since recessionary times often hurt historically disadvantaged groups first, Gould said.

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Breitbart Business Digest: Declining Job Openings May Help Bring Down InflationToday's JOLTS data provided reassurance to monetary policymakers that inflationary pressures from the labor market may be retreating.
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