(CNN Business) A record 4.4 million Americans quit their jobs in September as the sheer volume of available jobs is empowering workers to have their pick.
Workers are quitting in search for better pay or better jobs, representing a fundamental shift in America’s labor market.
“Labor now has the initiative, and the era of paying individuals less than a livable wage has ended,” said Joseph Brusuelas, chief economist at RSM US. “This strongly suggests that rising wages are going to be part and parcel of the economic landscape going forward.”