Predictions about the Great Resignation are seemingly coming true, according to latest data from the Bureau of Labor Statistics. A record-breaking 4.5 million Americans quit their jobs in November, the agency’s data confirmed, pushing the quit rate to 3%, equal to the high set in September.
Most of the quitting is happening among workers in the hospitality industry, which had a quit rate at 6.1% in November. Healthcare workers are also quitting as well as workers in transportation, warehousing, and utilities.
“Workers continued to quit their jobs at a historic rate. The low-wage sectors directly impacted by the pandemic continued to be the source of much elevated quitting,” Nick Bunker, research director at Indeed Hiring, told CNN Business.
Part of the reason why so many people are leaving is due in part to the tight labor market in which workers can find new and possibly better employment opportunities quickly.
Experts are wondering if the high quit rates will continue through 2022.
The November numbers don’t account for the Omicron variant-driven surge in new Covid-19 cases, which put many workers at risk of contracting the virus at work.
Restaurants and hotels marked the biggest number of separations and the largest decline in open jobs, the data shows. Across the US, there were 10.6 million jobs to be filled in November, which is a slight decline from October’s 11 million job openings. The US peaked in July with 11.1 million open jobs.
The number of positions in finance, insurance, and federal government jobs also increased.