Jun 11, 2019

U.S. quits rate hits a record plateau

Dion Rabouin
Expand chart
Data: Federal Reserve Bank of St. Louis; Chart: Axios Visuals

The U.S. quits rate has remained unchanged for the longest period on record. For 10 straight months, from June 2018 to April, the quit rate has been 2.3%.

The big picture: The high quit rate — the measure of Americans who voluntarily leave their jobs as a percentage of total employment — is an indicator of a strong economy, and it's been holding at a 15-year high and the second highest rate since the government began tracking the data in 2000.

The intrigue: The plateauing rate is a strange and potentially worrisome development as U.S. jobs growth has stalled its torrid pace.

  • However, the last time the quit rate plateaued, from April through November 2016, it picked up again setting the pace for the current highs.

Go deeper: The U.S. quit rate is strangely steady

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Marisa Fernandez

China reopens Wuhan after 10-week coronavirus lockdown

People wearing facemasks stand near Yangtze River in Wuhan. Photo: HECTOR RETAMAL/AFP via Getty Images

China has lifted its lockdown of Wuhan, the city in Hubei province where the coronavirus outbreak was first reported in December, according to the New York Times.

Why it matters: As cases surged in January, China took the draconian step of sealing off the city of 11 million and shutting down its economy — a response that was viewed at the time as only possible in an authoritarian system, but which has since been adopted by governments around the world.

Go deeperArrow19 mins ago - Health
Axios

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 1 p.m. ET: 1,381,014— Total deaths: 78,269 — Total recoveries: 292,973 — Map.
  2. U.S.: Total confirmed cases as of 1 p.m. ET: 378,289 — Total deaths: 11,830 — Total recoveries: 20,003 — Map.
  3. Trump administration latest: Trump removes watchdog overseeing rollout of $2 trillion coronavirus bill
  4. Federal government latest: Senate looks to increase coronavirus relief for small businesses this week — Testing capacity is still lagging far behind demand.
  5. States update: New York death toll surged to its highest one-day total as state predicts a plateau in hospitalizations.
  6. 🎧 Podcast: The race to reopen America
  7. What should I do? Pets, moving and personal health. Answers about the virus from Axios experts — What to know about social distancing — Q&A: Minimizing your coronavirus risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it.

Subscribe to Mike Allen's Axios AM to follow our coronavirus coverage each morning from your inbox.

Keep ReadingArrowUpdated 29 mins ago - Politics & Policy
Jacob Knutson

Trump removes watchdog overseeing rollout of $2 trillion coronavirus bill

Glenn Fine, acting Pentagon watchdog

President Trump on Monday replaced the Pentagon's acting Inspector General Glenn Fine, who had been selected to chair the panel overseeing the rollout of the $2 trillion coronavirus relief bill passed last month, Politico first reported.

Why it matters: A group of independent federal watchdogs selected Fine to lead the Pandemic Response Accountability Committee, but Fine's removal from his Pentagon job prevents him from being able to serve in that position — since the law only allows sitting inspectors general to fill the role.

Go deeperArrowUpdated 40 mins ago - Politics & Policy