An All-Time High 4.5 Million People Quit Their Jobs in November as Cheap Labor Bubble Burst Continues
It’s not only difficult for employers to fill open positions in the U.S. economy. It’s increasingly challenging to hold on to workers already on the payroll, especially in traditionally lower-wage jobs.
A record number of people quit their jobs in November, the latest Labor Department survey of hires, openings, and quits showed Tuesday.
The number of quits rose to 4.53 million in November, according to the Labor Department’s Job Openings and Labor Turnover Survey. That was a nine percent increase from the prior month and the highest on record. The previous high had been set in September at 4.36 million.
Quits have been at historically elevated levels since passing 3.5 million in March of 2021. On average since the turn of the century, there were 2.7 million quits per month.
Three percent of the total workforce quit in November, matching the record high hit in September.- READ MORE
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