The number of U.S. workers who quit their jobs rose to 4.3 million in August, which is the highest level in two decades, the Labor Department said in a report Tuesday.
According to the department’s Job Openings and Labor Turnover Summary, or JOLTS survey, U.S. workers who left their jobs voluntarily in August increased by 2.9%. In July, the figure was about 4 million.
The department said the accommodations and food service industry saw the most turnover in August (157,000). About 26,000 quit jobs in wholesale trades and 25,000 in state and local government education. About 23,000 quit in real estate.
Experts say the rising number of people leaving their jobs is an indication that it’s a worker’s market.
“This really elevated rate of people quitting their job is a sign that workers have lots of confidence and they have relatively stronger bargaining positions than they’ve had in the past,” analyst Nick Bunker told The Washington Post.
“There’s lots of demand, and people are seizing that opportunity and quitting their job.”
The report said the number and rate of hires decreased 4.3% to 6.3 million in August compared to the previous month. The JOLTS report said job openings in August declined to 10.4 million in August, coming off of a record-high number of job openings in July.
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