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The number of Americans who quit their jobs in October remained high, decreasing only slightly to 4.2 million, down from a record 4.4 million in September, according to the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) report that came out on Wednesday.
In addition, the number of job openings increased to 11 million in October, from 10.4 million in September, demonstrating the continued tight labor market, underscored once again by the discrepancy between demand and willing workers — what many are calling “the Great Resignation.”
Quits decreased in several industries with the largest decreases in transportation, warehousing and utilities, finance and insurance, and arts, entertainment and recreation.
However, quits increased in state and local government, excluding education.
According to Labor Department data, the largest quit rates were in accommodation and food services, with 6%; leisure and hospitality, with 5.7%; and retail trade, with 4.4%.
In terms of region, the largest quit rates were in the South and the Midwest, data shows.
Only 7.4 million people were unemployed in October, which is just two-thirds of the 11 million open jobs. Prior to the pandemic, there were usually more unemployed than available workers.
