Job quits, the monthly stat driving the Great Resignation — which has become synonymous with the post-pandemic economic recovery — cooled a bit in October.
The big picture: The ratio of unemployed Americans per job opening fell to the lowest level in decades, according to data out Wednesday from the Bureau of Labor Statistics.
Why it matters: Though the unemployment rate is still above its pre-pandemic low, almost every other indicator suggests the economy is at full employment, wrote Andrew Hunter, senior U.S. economist at Capital Economics, in a research note.
- That could have implications for the Federal Reserve's committee meeting next week, where it may decide to speed up the taper of its bond purchases.