Analyses of US main street economic indicators.

Let's take a look at the main street indicators to decipher the true economic conditions in the US.

The US quits rate had reached a record high of 4.5m people (3%) in November 2021.

What had happened?  We will explain this in the next chart below.

The CPI has been exceeding the wage growth (hourly earnings) for many months already and this inflation phenomenon has reduced the US employees' purchasing power and personal savings.  Therefore, many people (4.5m) have quit their jobs to seek greener pastures and reprioritize their lives.  This has resulted in a huge mismatch between jobs and seekers which leaves an unfilled position of 4m jobs.

As the labour force participation rate is still below the pre-pandemic level, the unemployment rate continues to trend lower because many are still not seeking jobs.  However, this decline has probably reached its doldrum or near its lowest point because the US is considered to be getting a full employment rate now.