Great Resignation: Quits Remain Near Record High
Americans quit their jobs in extremely high numbers in October, data from the Labor Department showed Wednesday.
The total number of workers who quit their jobs in October was 4.2 million, the third-highest on record. The record high was the previous month, when 4.4 million quit. In August, 4.3 million Americans quit jobs.
The figures come from the Labor Department’s monthly Job Openings and Labor Turnover Survey. Quits are defined as a worker voluntarily leaving a job. These have been at historically elevated levels since this summer.
Economists are not quite sure why the high quits phenomenon, which has been dubbed the Great Resignation, is taking place. Competition for workers among employers has heated up, making it easier for a worker to quit with confidence that a better job awaits. Some Americans may also be leaving jobs that require vaccinations or masks or are perceived as posing a higher risk of Covid-infection. – READ MORE