The "Great Resignation" Is So Over - U.S. Data
06 Mar 2024
06 Mar 2024 by Luke Puplett - Founder
Remember when it seemed like everyone was quitting their jobs during the "Great Resignation"? Well, those days are firmly behind us, according to the latest Job Openings and Labor Turnover Survey (JOLTS) data from the U.S. Bureau of Labor Statistics.
As you can see from the chart, the quits rate (resignations initiated by employees as a percentage of total employment) has dropped significantly from the peak levels of early 2022. In fact, at 2.1% in January 2024, it's back around pre-pandemic norms.
Of course, some churn is always healthy for the labor market. But the slowdown in quitting could signal employees are more hesitant to leave their current roles amid economic uncertainties. Employers hoping to hire or retain talent may need to emphasize job security and opportunities for growth.
Source: U.S. Bureau of Labor Statistics Job Openings and Labor Turnover Survey news release
https://www.bls.gov/news.release/jolts.nr0.htm
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