Cool new tool not just to track worker bargaining power but to compare it across sectors and over time. Go explore the #LaborLeverageRatio
https://www.upjohn.org/about/news-events/interactive-labor-leverage-ratio-tracks-workers-power-labor-market

Do workers or employers have more power in the #labor market? : The Indicator from Planet Money : NPR #labour #LLR #LaborLeverageRatio

https://www.npr.org/2023/05/05/1174384859/whos-the-boss-in-todays-labor-market

Dreams really can come true!

#LaborLeverageRatio named
The Indicator this month.

Some have called this economics biggest honor. I feel that today.

https://www.npr.org/2023/05/05/1174384859/whos-the-boss-in-todays-labor-market

RT @aaronsojourner@twitter.com

If you want to predict nominal wage growth, the #laborleverageratio = Quits/(Layoffs + Discharges) does a great job.

The red and blue shows the relationship in 2013-2019. The grey and black in 2021-present.

Remarkably the slope is present constant.

🐦🔗: https://twitter.com/aaronsojourner/status/1645515622787285008

The decline in the #LaborLeverageRatio = quits/(layoffs + discharges) accelerated in Jan driven by falling quits & rising layoffs.

Down to 2.3 quits per layoff, off a high of 3.3 and getting close to pre-pandemic 1.9.

The #LaborLeverageRatio

= jobs destroyed by employee per job destroyed by employer

= quits / (discharges+layoffs)

ticked up in November, flat over recent months a bit below record level.