Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
4.2 million Americans quit their jobs in October
Washington PostSome 4.2 million Americans quit their jobs in October as churn in the labor market continued to mark the economic recovery nearly two years into the pandemic, according to a report released today by the Bureau of Labor Statistics.
The number of people who left jobs for other opportunities in October made up 2.8 percent of the workforce, the BLS said in its monthly Job Openings and Labor Turnover Survey. In contrast, the survey found 11 million job openings, only slightly less than the record from July.
A record 4.4 million Americans quit their jobs in September. Workers took advantage of the surge in job openings across the country. August’s numbers, at 4.3 million, were also a record at the time. In contrast, in February 2020, before the big wave of pandemic-related layoffs began, 2.3 percent of workers quit their jobs — underscoring that the October data remains extremely elevated.
“This report once again shows strong demand from employers leading to a hot labor market,” Nick Bunker, an economist at Indeed, wrote Wednesday. “The bargaining table is tilted more toward workers than it has been in the past. … The question now is whether the omicron variant cools down in the labor market.”
The number of people who left jobs for other opportunities in October made up 2.8 percent of the workforce, the BLS said in its monthly Job Openings and Labor Turnover Survey. In contrast, the survey found 11 million job openings, only slightly less than the record from July.
A record 4.4 million Americans quit their jobs in September. Workers took advantage of the surge in job openings across the country. August’s numbers, at 4.3 million, were also a record at the time. In contrast, in February 2020, before the big wave of pandemic-related layoffs began, 2.3 percent of workers quit their jobs — underscoring that the October data remains extremely elevated.
“This report once again shows strong demand from employers leading to a hot labor market,” Nick Bunker, an economist at Indeed, wrote Wednesday. “The bargaining table is tilted more toward workers than it has been in the past. … The question now is whether the omicron variant cools down in the labor market.”