Churn in the labor market – how many workers quit voluntarily to work somewhere else, how many were discharged for whatever reason, how many retired or died, and how many were hired to fill these left-behind job openings – had gone on a wild ride in 2021 and 2022. That kind of epic labor market churn was expensive and inefficient for companies, but it ended up massively reshuffling where people worked, possibly producing better matches between skillsets and aspirations, which would be a positive outcome. And this churn has now settled down. This labor market “turnover,” as it’s called officially, is tracked by the ... (full story)