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More Americans quitting jobs as labor market strengthens
U.S. job openings surged in December and the number of Americans voluntarily quitting work hit a nine-year high, pointing to labor market strength despite a slowdown in economic growth.
The signs of a robust jobs market could ease concerns about the health of the economy, which were underscored by other reports on Tuesday showing a drop in small business confidence in January to a two-year low and further declines in wholesale inventories.
“If the labor market is tightening, can the economy really be faltering?” said Joel Naroff, chief economist at Naroff Economic Advisors in Holland, Pennsylvania. Read More…