People Quitting their Jobs, Sign of Recovery?

From Above the Law two articles that point to people's growing willingness to quit their current jobs as a sign that many are growing more confident about the economy and the job market.

Here's the AP this week,

More people quit their jobs in the past three months than were laid off — a sharp reversal after 15 straight months in which layoffs exceeded voluntary departures, suggesting the job market is finally thawing.

Some of the quitters are leaving for new jobs. Others have no firm offers. But their newfound confidence about landing work is itself evidence of more hiring and a strengthening economy.

"There is a century's worth of evidence that bears out this view that quits rise and layoffs fall as the job market improves," said Steven Davis, an economist at the University of Chicago.

Now, again, this is only an indicator - not direct evidence of a recovery. The job market is still poor, just not as poor as it was last year.

The Economist has a look at one of the consequences of the poor economy - overworked employees who are itching to quit,

The biggest danger for companies is if workers head for the door as the economy picks up. [One survey of employees] reports that 59% of its sample are either considering leaving or actively looking for a new job—and more than 85% of those who are not in the job market are staying only because that market is so dismal.