Why workers currently have the 'upper hand' in job market.

By The Exchange Team

Strong employer demand implies workers can negotiate for greater pay, perks, and other features of their jobs, say economists.

As per US Department of Labor, In July, there were more than 11.2m job opportunities, an increase of 199,000 over June.

Job vacancies indicate labour demand. July saw the first increase since March, when they touched a record 11.9 million.

Voluntary quits reflect workers' willingness or ability to leave a job, and thus worker power.

According to economists, most workers who leave voluntarily do so for another job rather than leaving the labour force entirely.

As per the Labor Department, quits fell 74k from the previous month to 4.2m in July.

While it was the 4th straight monthly decline, voluntary quits remain significant by historical norms, economists noted.