Monday, December 15, 2014

The Public is Feeling Much More Comfortable About Job Prospects

The number of people leaving jobs climbed to the highest in more than five years in October, according to the Labor Department, another sign of the increasingly positive view of the job market.

Some 4.8 million people left a job in October–including 1.7 million layoffs and 2.7 million voluntary separations–while 5.1 million began a new job. Along with last month, that’s the highest hiring level recorded since 2007, according to the Job Openings and Labor Turnover Survey, known as JOLTS.

More comfort about the job market means an increasingly willingness to lower the desire by consumers to hold cash balances. Less desire to hold cash balances means more spending and upward pressure on prices. The accelerating price inflation is coming.

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