This is what a strong labour market looks like

This chart show two things: the total number of job openings and the total number of job quits.

This is the job market in motion.

More openings and more quits means a tighter job market, giving employees more leverage and opening the door for meaningful wage growth.

As Wal-Mart employees just found out.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.