A staggering 4.4 million Americans quit their jobs in September alone, a slight uptick from 4.3 million in August and the highest ever recorded in U.S. history.
“Quits increased across a number of industries with arts, entertainment, and recreation (+56,000); other services (+47,000); and state and local government education (+30,000) among those seeing the biggest impact,” reports Fox News.
“The October employment report released earlier this month showed hiring picked up last month with employers adding 531,000 workers, up from 312,000 in September. The unemployment rate slipped 0.2 percentage points to 4.6%,” adds Fox.
“People are rethinking their work, and they are sitting on an unprecedented amount of savings — people feel very comfortable that they can find a new job, and that’s what we think of when we think of a strong labor market,” said Liz Wilke, chief economist at Gusto, a company that offers human resources solutions to small businesses.
“Teens have turned into a very strategic substitute for employers,” she added. “They tend to have much lower expectations for wages, since they are fresh to the job market, and they are very, very flexible — they can work nights, they can work weekends.”
Read the full report here.