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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
MARKET INSIGHT
- However, the still historically elevated nature of the quits rate is down to a few sectors that are still far above pre-pandemic levels, most notably accommodation & food services at almost +2.5%pts. This is the sector that most heavily lags in the post-pandemic recovery, with a chance that some of these quits are permanent moves to other industries.
- On the flipside, in a point also made by SF Fed economist Petrosky-Nadeau when talking to MNI, quit rates in the (rapidly growing) professional & business services and (less fast growing) retail sectors are back to where they were pre-pandemic – first chart below shows compared to Feb’20 levels.
- Perhaps a better gauge of the genuine level of quits is the median rate, which shows a similar recent decline to that of job openings, fairly sharp in recent months and potentially indicative of a faster cooling in wage growth ahead than would otherwise be the case.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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