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Kronos labor index: Job market more favorable for applicants
Chelmsford, Mass. -- Kronos Inc. said Thursday that its Retail Labor Index for May, which characterizes the current state of the demand and supply sides of the labor market within the U.S. retail sector, rose to 4.1%. (This index is defined as the ratio of hires to applications within a given month, expressed as a percentage. A level of 3.0% means that for every 100 applications received, three hires occurred).
The May reading of the Retail Labor Index reflected a moderate decline in hiring outpaced by a sharp drop in applications.
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Being Prepared for Turnover as More Retail Workers Say ‘I Quit’
By Rick Parker, [email protected]
“Is there a better job out there?”
This is a question that hourly employees within retail industry are asking themselves more frequently, often leading them to say “I quit,” to their current employer.
Consider trends from the government’s latest Job Openings and Labor Turnover survey (JOLTs):