Workers quitting to play the booming markets

Serious labour shortages are developing in NZ with job vacancies picking up far more rapidly than after the GFC. (Image: Adobe Stock)

Brian Gaynor

Sat, 20 Nov 2021

Labour markets are tightening for several reasons, including the impact of covid-19 and buoyant financial markets.This could have serious implications for labour costs, inflation and interest rates in the months ahead.The US Labor Department reported last week that 4.4 million workers quit their jobs in September, on top of 4.3 million leaving in August and 4 million in July.The US workforce is attracting new entrants but there were 10.4 million job openings at the end of September, compared with about 7.5 million unfilled jobs prior to covid-1...

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