Resignations Slowed in October; Job Openings Climb
While the quits rate dropped, the level of job openings accelerated to just below its all-time high. That number totaled 11.03 million, an increase of 4.1% as the rate rose to 6.9% from 6.7%.
Edited by Margo Ellis
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The “Great Resignation” slowed in October, with the total number of workers leaving their jobs either due to dissatisfaction or opportunities elsewhere declining, the Labor Department reported.
Job quitters fell by 4.7%, falling to 4.16 million from 4.36 million, the department said in its Job Openings and Labor Turnover Survey (JOLTS). The rate as a share of the workforce fell from 3% to 2.8%.
The JOLTS report is closely watched at the Federal Reserve and elsewhere for signs of labor market tightness.
The level of job openings accelerated to just below its all-time high. That number totaled 11.03 million, an increase of 4.1% as the rate rose to 6.9% from 6.7%. Read here for the full CNBC story.
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