Workers feel stuck in their jobs. It may be costing the U.S. economy

CNBC2 hrs ago

Americans aren't quitting their jobs — and that trend is changing the way the labor market functions.

Since April 2024, the U.S. economy has shed 1.2 million jobs. Hiring has slowed to its lowest pace in a decade, excluding the pandemic dip. The quits rate , once a key marker of worker confidence, has fallen to around 2%, a level not regularly seen since early 2016.

"There's been a lot of anxiety about the direction of both the economy and the labor market as well," said James Atkinson, vice president of thought leadership at SHRM, a professional group for human resource management. "I think that is part of what's keeping people in jobs."