Record 4.5 Million Americans Quit Jobs In November As Employers Struggle To Retain Workers

Though the number of job openings fell more than expected in November, the number of Americans quitting their jobs jumped to record territory, the Bureau of Labor Statistics reported Tuesday, further illustrating the struggle employers are facing in filling—and retaining—jobs during the pandemic. The number of people quitting their jobs in November jumped to a record high 4.5 million—surpassing the previous record of 4.

Meanwhile, there were about 10.6 million open jobs at the end of November, down 529,000 from a month prior, when openings nearly matched the record 11.1 million set in July. Despite red-hot worker demand and the high quit rate, the number of hires in November was little changed at 6.7 million, and layoffs and terminations also stayed flat, at 1.4 million.The Labor Department's jobs report for December is set to be released Friday. Economists expect the unemployment rate to tick down to 4.1% from 4.2% one month prior. That would be the lowest point in more than a year but still well above pre-pandemic levels of about 3.5%.

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