Bloomberg Surveillance · Friday, October 2, 2026
The current labor market is characterized by a lack of dynamism, with low quit rates indicating limited opportunities for workers to move to better jobs or pay. This 'stuck' feeling, combined with technological advancements like AI, creates a disconnect that is not perceived as sustainable.
“It is really frustrating to look at the labor market at a moment like this where there really isn't a lot of dynamism. One thing I watch so closely, in addition to the hiring rate, is the quit rate, because That's the opportunity for people to go find better jobs, better pay, deal with higher prices. And that quit rate is also low.”
“We are just not moving people around. So it really is. There's so much tension to have a labor market that feels kind of stuck where we're talking about transformative technology like it's like things are out of sync in a way that just doesn't feel like it can keep going.”
“And yet it has we are like you know at least three years into this low higher low fire labor market this is not normal.”