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More resignations than layoffs in February

April 14, 2012 at 4:25 PM   |   Comments

WASHINGTON, April 14 (UPI) -- There's a new sign of confidence in the U.S. economy -- in February more people quit than were laid off for the first time in several years.

The U.S. Labor Department reported in its Jobs Turnover and Labor Survey that 51 percent of those who left jobs resigned, CNBC reported. That's up from 49.8 percent the previous month.

While economists declared the recession over in June 2009, almost three years ago, job growth has been sluggish or almost non-existent. The government reported that only 120,000 jobs were created in March after months of slowly improving numbers.

"The March report seems to be widely accepted as a one-off," said Michael Murphy, an analyst with the hedge fund Rosecliff Capital. "I agree with the conclusion that consumer confidence is improving."

Experts say job seekers still have a difficult time. Many also have trouble moving to take or see jobs because of the crash in the housing market.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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