In 2015, an article on bloomberg.com noted that Walmart, Starbucks, TJ Maxx, IKEA, Gap, and several other big retailers had announced increases in the wages they were paying newly hired workers. The same article also noted that "[labor] turnover in the retail sector has been steadily rising and now stands at 5 percent a month."
a. What do the authors mean by labor turnover?
b. Is it likely that the increase in labor turnover is connected to the increases in entry-level wages being paid by large retailers? Briefly explain.