Jobs Report: Workers Are Quitting Their Jobs at Dotcom Bubble Rates

12 Juillet, 2018, 04:35 | Auteur: Auguste Feret
  • Workers are quitting their jobs at a rate not seen since dotcom bubble

According to the Labor Department, the number of people quitting their jobs is the highest it has been since 2001.

The rate of US employees quitting their jobs reached its highest rate in 17 years, rising from 2.3 percent in April to 2.4 percent in May, when 3.56 million Americans left their jobs.

The government report found that the type of employees who are choosing to leave for greener pastures worked in healthcare, social assistance, finance, insurance, transportation, utilities, and warehousing industries.

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Why are so many people quitting? In another bullish sign, the gap between vacancies and the number of unemployed widened to 573,000 in May, a sign there's potentially work available for every jobless person in America.

Companies continue to fill more positions and as such, job openings dropped to 6.64 million in May, down from 6.84 million. Switching jobs is one way to reliably boost your pay. With more workers feeling assured of finding better employment, sustained wage gains may soon follow.

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