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Chart of the Week!
US labor markets remain in a state of flux as both the quits rate and job openings hover at historic highs. Meanwhile demand for labor is strong, suggesting that job seekers are in a strong bargaining position despite elevated unemployment. With unemployment benefits set to expire and schools reopening, labor supply is expected to pick up, which should lead to gradual improvement in labor market conditions.
Source: Goldman Sachs Asset Management. As of June 30, 2021.