A record number of American workers quit their jobs as of the last business day of September, in a sign of continued labor market tightness that is upping pressure on businesses to boost wages to attract and retain staff.
The Labor Department’s Job Openings and Labor Turnover Survey (JOLTS), released Nov. 12, showed that 4.4 million U.S. workers quit their jobs in September, a record high. The so-called quits rate, which reflects worker confidence in being able to find a better job, rose to a record high of 3.0 percent, with the voluntary separations data painting a picture of labor market tightness and growing pricing power of workers.
