A Record 4.5 Million Workers Quit Their Jobs in November
January 4, 2022
A record number of workers quit their jobs in November while the number of open jobs remained near an all-time high.
The so-called quits level climbed to 4.53 million in November, according to the Labor Department’s latest Job Openings and Labor Turnover Survey (JOLTS). That is an increase of 8.9% from the month before and higher than the previous record of 4.36 million set in September. As a percentage of the total workforce, November’s quits rate was 3%, matching September’s rate.
The number of available jobs in November totaled 10.56 million, less than the 11 million economists had anticipated and down from 11.09 million in October. Despite the decline, the number of job openings in November was well ahead of the 6.88 million workers looking for work during the months.
The job openings rate was 6.6% for the month, down from 7% in October, but still far higher than the 4.5% rate in the same month last year.
Several industries are facing a high quits rate, from retail and hospitality to professional and business services. The healthcare industry, where workers are facing burnout and fatigue after dealing with pandemic for two years, reached a seasonally adjusted quit rate of 3% in November, the highest level in record since data started being kept in 2000.