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U.S. quits rate hits a record plateau

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