People are clinging to their jobs despite dismal feelings about wages and promotion opportunities, according to the New York Federal Reserve’s latest labor market survey.
In March, survey respondents’ expected likelihood of switching to a new employer hit 9.7%, the lowest level since March 2021. That tracks with government data from the month prior, which showed the number of quits as a percent of total employment at 1.9% as skittish workers try to avoid braving an uncertain job market.
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