The 'Great Hesitation': Fewer Americans are switching jobs lately as labor market cools

Tens of millions of Americans switched jobs during the past couple of years, lured by big pay raises and abundant job opportunities – a trend that economists dubbed the "Great Resignation."

But that may finally be coming to an end as the labor market settles into what Bank of America economists are now calling the "Great Hesitation." 

Job hoppers appear to be taking a pause, according to a new report published by the Bank of America Institute that is based on internal data. The number...