This story is from one of my favorite national economists Elliot Eisenberg.

“In yet another sign of labor market tightness, the percentage of persons who quit their jobs in May was 2.4%, the highest level since January 2001, and higher than the 2.2% attained during the peak of the Housing Boom. 2.4% translates into 3.56 million people/month quitting their job, or almost 43 million employees a year. Those who switched jobs in May experienced median wage growth of 3.8% versus 2.9% for job stayers.”