Another 4.35 Million Workers Quit—Most for Better Jobs

MarketWatch (03/29/22) Bartash, Jeffry

About 4.35 million workers quit their jobs in February—most to take better jobs—in a sign the labor market remains the tightest it’s been in decades. The number of people quitting topped 4.0 million last June for the first time in history, and this now has happened for nine consecutive months. Prior to the Covid-19 pandemic, the number of people quitting jobs averaged fewer than 3.0 million per month. Most people who quit are finding new jobs rather than exiting the labor force.

Job openings dropped slightly to 11.27 million in February, according to the U.S. Department of Labor, but stayed near a record high. There are about two open jobs for every unemployed individual. Wages are increasing at the fastest pace in decades.

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