Market Commentary

Jolting Jobs Market
By Charles Payne, CEO & Principal Analyst
1/10/2017 12:46 PM

The so-called JOLTS report on the movement of workers underscores the worrisome issue of the skills gap and bifurcated job market that has some industries seeking and getting wage hikes and others hanging on for dear life.   The key is how many folks are telling their boss to “take this job and shove it,” versus those that are miserable but not causing any ripples.

Surge in Quits

• Construction +24%
• Professional Services +15%
• Transportation, Warehousing and Utilities +45%

Meanwhile, retail and restaurant worker quits are either lower from a year ago or mostly unchanged.

Don’t look now, but the Dow is creeping back towards 20,000 without a lot fanfare mostly on more signs the nation is ready and prepared for an economic revival.  Part of that comes with a smooth transition for the next administration.  On that note, hearings for Senator Jeff Sessions are going well; but, tomorrow is the big day when his Senate colleague Corey Booker speaks against Session’s for US Attorney General. 

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