Americans quitting jobs sign of a ‘Great Upgrade’: Biden economic official

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A record 4.5 million Americans quit their jobs in November, while employers posted 10.6 million job openings, according to data from the Bureau of Labor Statistics.

The “quits rate,” or resignations as a percentage of the workforce, was 3 percent, matching a high set in September.

The US economy added just 199,000 jobs in December, well below the 422,000 jobs that analysts expected. At the same time, the unemployment rate sank to 3.9 percent, close to what the Federal Reserve considers to be full employment. at a press conference. “Well, today’s report tells you why: Americans are moving up to better jobs, with better pay, with better benefits. That’s why they’re quitting their jobs.”

 

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