Underlying Labor Market Dynamics Still Tight Despite Highest Gov Layoffs & Discharges since Census Wind-Down of 2020

The circular relationship between quits, job openings, hires, and fires – the data released today – shows the churn in the labor market, in addition to growth aspects. And now it also begins to show a shift from government hiring to private-sector hiring. Labor-market churn went wild in 2021 and 2022...