1.92 American employees quit their jobs in Jan for each employee fired, per today's @[email protected] #JOLTS data. This #LaborLeverageRatio, which proxies for labor bargaining power in jobs, declined slightly from rising firings (=layoffs + discharges) & stable quits www.upjohn.org/labor-levera...

1.82 American employees quit their jobs in Dec for each employee fired, per today's @[email protected] #JOLTS data. This #LaborLeverageRatio, which proxies for labor bargaining power in jobs, declined slightly from rising firings (=layoffs + discharges) & stable quits www.upjohn.org/labor-levera...

1.87 American employees quit their job for each employee fired by their employer in Nov. This #LaborLeverageRatio proxies for worker power in their job and rose due to both a 6% increase in quits & a 9% fall in firings (=layoffs & discharges) versus Oct.

1.59 American employee quit their job for each employee fired by their boss in Oct, lowest level since Jan 2018 outside pandemic This #LaborLeverageRatio proxies for employee bargaining power in jobs cuz workers ⬆️ quits when their outside options improve & bosses ⬆️ firings when theirs do

1.96 American employee quit their job for each employee fired by their boss in June. This #LaborLeverageRatio proxies for employee bargaining power in jobs because workers increase quits when their outside options improve & bosses increase firings when theirs do. Stability over recent months.

Hiring, quits, firings, & job openings pretty steady in today's #JOLTS report for May. 2.1 American employees quit their jobs for every employee fired by their boss in May, steady in recent months. This #LaborLeverageRatio proxies worker bargaining power via changes in each sides' outside options

Cool new tool not just to track worker bargaining power but to compare it across sectors and over time. Go explore the #LaborLeverageRatio
https://www.upjohn.org/about/news-events/interactive-labor-leverage-ratio-tracks-workers-power-labor-market

There's a new Indicator on The Indicator from NPR's Planet Money:
Our @aaronsojourner presents the #LaborLeverageRatio showing whether workers or employers have more power in the relationship. "Who's got better outside options? Who's more in the driver's seat?" Sojourner says.
https://www.npr.org/2023/05/05/1174384859/whos-the-boss-in-todays-labor-market