US Jobs Report Finds Higher Quit Rate, Job Openings Decrease
The Labor Department on Tuesday reported that a record 4.5 million Americans quit their jobs, which matched the high from September and marked a continuation of The Great Resignation.
The quit rate, which jumped to 3% in November from 2.8% in October, is mainly confined to low-wage sectors such as retail and hospitality. There was a 370,000 increase in quits.
November saw 10.6 million job openings, a decrease from 11 million in October. Job-search website Indeed.com reported that there were 12 million job openings in the U.S. at the end of December.
There were 6.7 million hires in November, a gain from 6.5 million in October.
Many workers have sought higher-paying jobs amid the labor shortage and as inflation has become a motivating factor for a career change.
“Pretty much the only group of people who say they’re better off now than they were a year ago are people who’ve gotten a pay raise that matches or beats inflation,” Laura Wronski, a research scientist at Momentive, told The New York Times.
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