According to the US Department of Labor, a record-breaking number of employees quit their jobs in November while the total amount of employment openings continued to drop, the department reported this Tuesday.
Around 4.53 million Americans resigned from their jobs throughout the month of November, according to the DOL’s Job Openings and Labor Turnover Survey. This marks an 8.9% increase in resignations when compared to October. The data also shows November beating September’s record of resignations, which peaked at 4.36 million.
The recent months of Americans resigning has been labelled as the Great Resignation. Workers have been leaving their positions for a multitude of reasons, including not enough pay/benefits, lack of health and safety precautions, and increased mobility in the labor market. Job openings in America currently outnumber the amount of citizens looking for work.
In October there were around 11.09 million job openings throughout the nation, and around 10.56 million in November. This time last year the job opening rate was around 4.5%, and has since increased to 6.6%.
“The Great Resignation shows no sign of abating, with quits hitting a new record. The question is why, and the answers are for starkly different reasons,” said Robert Frick, corporate economist at Navy Federal Credit Union.
“COVID-19 burnout and fear are continuing, but also, many Americans have the confidence to quit given the high level of job openings and rising pay.”
A separate economic report from the ISM Manufacturing Index showed that manufacturing rates throughout December were slower than initially expected. The index registered a 58.7% rate, 1.3% lower than the 60% expectation.
The index also showed major decreases in supplier delivery, which fell by 7.3% last month. While inflation in general is running at its highest level in nearly 40 years, the index also showed a shocking decrease in prices; 14.2%.
The employment index within manufacturing, however, has shown a .9% gain in employment, which is a sign that hiring within the sector is remaining relatively strong.
As Covid cases continue to surge, the healthcare and social assistance industries are experiencing some of the highest levels of resignation, with a 3% rise in November, the highest percentage on record for that sector.
The Labor Department is expected to release their closely watched nonfarm payroll count for December within the week. Experts in the field are expecting, and hoping, to see a growth of around 422,000 jobs with an unemployment rate of 4.1%.
Eric Mastrota is a Contributing Editor at The National Digest based in New York. A graduate of SUNY New Paltz, he reports on world news, culture, and lifestyle. You can reach him at firstname.lastname@example.org.