Show an ad over header. AMP

I am the FIRST

Workers quit at historic clip

Data: BLS, FRED; Chart: Axios Visuals

Demand for labor seems to be getting stronger, and workers are taking advantage by quitting.

Why it matters: Businesses are scrambling to fill job openings as they try to catch up with booming demand.


  • Many companies are aggressively raising wages to recruit, which has resulted in workers quitting their old jobs for better opportunities.

By the numbers: 3.87 million workers quit their jobs in June, according to the BLS’s Job Openings and Labor Turnover Survey. This is close to the record, set in April, of 3.99 million.

  • This represents 2.7% of the workforce in June, which is also just below April’s record rate of 2.8%.
  • Quits as a percentage of total separations — which includes layoffs, firings and retirements — reached 69.3% in June. This measure, also known as the “take this job and shove it” indicator is at an all-time high.

What they’re saying: "People tend to leave their jobs when they find a better opportunity, and we think part of the high quits rate reflects the massive suburbanization trend that started during the pandemic," DataTrek Research co-founder Jessica Rabe tells Axios.

Zoom out: Many of these folks are accounted for in the 6.72 million hirings that occurred during the month.

  • But the fact that job openings still set a new record of 10.07 million during the period speaks to how strong the demand for labor continues to be.
  • For context, there were 9.48 million unemployed workers during the period.

In other words, there were more job openings than unemployed workers, a dynamic that hasn't occurred since before the pandemic.

The bottom line: "Labor demand keeps getting stronger," Indeed Hiring Lab economic research director Nick Bunker writes.

  • "Job seekers, both jobless and employed, are taking advantage of this situation with job switching near historic levels and nominal wages growing quickly. The question now is by how much and how quickly will this situation fade."

regular 4 post ff

infinite scroll 4 pff

test 5

shall had shall had shall hAd HAD. sdfsdf

content more

selected test 10 in From Site, test

111added test 9

added external seo phrase

added news internal link to seo phrase

Humans are capable of great kindness and compassion, and there are countless examples of individuals who have made a positive impact on the world through their selflessness and generosity.

One such example is Mother Teresa, who devoted her life to serving the poor and sick in the slums of Calcutta. Through her tireless work and unwavering dedication, she touched the lives of countless people and became a symbol of compassion and selflessness.

Another example is Malala Yousafzai, a young woman from Pakistan who has become a powerful advocate for education and the rights of girls. Despite facing threats and violence, she has continued to speak out and fight for change, inspiring others to do the same.

These are just a few examples of the many good humans who have made a difference in the world. They remind us that one person can make a difference and inspire others to do the same.

It's also important to note that acts of kindness and compassion don't have to be on a grand scale to make a difference. Small acts of kindness, like holding the door open for someone or offering a word of encouragement, can have a big impact on the people around us.

In conclusion, humans are capable of great compassion and kindness, and there are many individuals who have made a positive impact on the world through their selflessness and generosity. They remind us of the power of one person to make a difference and inspire others to do the same. Let's all strive to be good humans, and make our world a better place.

Insights

mail-copy

Get Goodhumans in your inbox

Most Read

More Stories