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Marketplace

Uneven churn

Marketplace

Marketplace

News, Business

4.68.5K Ratings

🗓️ 4 December 2024

⏱️ 27 minutes

🧾️ Download transcript

Summary

About 3.3 million people quit their jobs in October, slightly more than in September. More quits can signal a strong labor market, but quit rates vary across the country. In this episode, why job churn is strong out West and falling in the Northeast. Plus: TikTok Shop did over $100 million in sales on Black Friday weekend, renters want electric vehicle chargers and the restaurant industry struggles with debt and shifting preferences.

Transcript

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0:00.0

Oracle Cloud Infrastructure is a single platform for your infrastructure, database, and application development with AI built in.

0:09.3

An Oracle Sovereign Cloud helps you address requirements for location, access, and data residency.

0:16.0

Take a free test drive at Oracle.com slash Marketplace.

0:22.4

You can't fire me.

0:24.3

I...

0:24.7

Well, you know how it goes from there.

0:27.1

From American public media, this is Marketplace.

0:36.1

In Los Angeles, I'm Con.

0:42.2

It is Tuesday, today the 3rd of December.

0:45.2

Good as always to have you along, everybody.

0:47.5

I quit.

0:48.1

That's it.

0:48.8

I'm done.

0:50.8

Not me, to be clear.

0:52.8

But more than 3.3 million people in this economy did quit in October, slightly more than the number that left their jobs a month earlier.

1:01.1

So we learned in the latest job openings and labor turnover survey jolts to those in the know, which was out today.

1:08.6

Quitting can, of course, be a sign of a healthy economy. People think

1:11.8

and they can easily get another job, so quitting's not that big a deal. But those quits are not

1:18.1

distributed evenly. In the American West, for example, the quits rate went up by more than a

1:23.5

half percent in October. In the Northeast, meanwhile, it went down. Marketplace's Stephanie

1:29.1

Hughes has today's economic geography lesson. It's a good time to be a transportation

1:34.4

planner in Utah, says Laura McClellan, a transportation planner in Utah. There is more work out

...

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