Why did Americans quit their jobs in record numbers?
Sectors that offer low wages, especially because they are severely affected by the pandemic, are the ones that have reported this phenomenon the most.
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In one of its latest reports, the United States Bureau of Labor Statistics revealed that last November, at least 4.5 million people voluntarily left their jobs.
November job openings decrease, total separations increase, and hires change little https://t.co/hll2Uc4FZt #JOLTS #BLSdata— BLS-Labor Statistics (@BLS_gov) January 4, 2022
The number of dropouts increased in November to a total of 4.5 million (+370,000). The dropout rate increased to 3%, matching another high from September. Quitting increased in several industries with the largest coming in food and hospitality services (+159,000); health and social assistance (+52,000); and transportation, storage and public services (+33,000). The number of those quitting increased in the Northeast, South and Midwest.
Within the report, the bureau explained how the total number of separations — constituting resignations, dismissals, discharges, and other actions that terminate a contract — increased by 6.3 million, which indicates a growth of 382,000.
The total separation rate settled at 4.2%. Total separations increased in food and lodging services (+130,000), but decreased in the federal government (-9,000). On the other hand, the number of dropouts in November, which was +370,000, allowed the dropout rate to rise to 3.0%, which equaled the maximum reached in September.
According to experts, the trend will continue in 2022 as long as a labor scenario like the current one persists, in which a tight labor market encourages workers to leave their jobs to quickly find a new and better one.
It is important to note that 10.6 million jobs were available in the United States in November, slightly less than the all-time high of 11.1 million. For its part, the finance and insurance sector, as well as the federal government, increased the supply, leaving the number of hires at 6.7 million.
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