A record 4.5 million Americans, 3% of the workforce, voluntarily left their jobs in November, a record number in the twenty years the statistic has been measured, a sign that demand for workers is remains strong, the Washington Post reports.
The number follows 4.2 million quits in October and 4.4 million in September, a trend that demonstrates workers continue to jump into the job market to look for positions with better pay and benefits. In a market with just a 4.2% unemployment rate, the turnover of workers pushes wages higher, particularly at traditional low-paying jobs.
The monthly Job Openings and Labor Turnover Survey (JOLTS) report also shows more than 10 million job openings as companies pursue workers to fill positions as the economy grows at an estimated 6% pace in the fourth quarter of 2021.