WASHINGTON — A record 4.5 million American workers quit their jobs in November, a sign of confidence and more evidence that the U.S. job market is bouncing back strongly from last year's coronavirus recession.
According to CNBC, the number of resignations represented a 9% increase from October. The previous record was set in September when 4.36 million Americans quit their jobs.
Dubbed "The Great Resignation," experts say the high number of Americans quitting their jobs stems from the fact that many are re-evaluating their lives, careers, and circumstances amid the COVID-19 pandemic.
"My thought was, these individuals who would have normally turned over over the years stayed in place because of the uncertainty of the pandemic. So, once the pandemic lifts, there's going to be this backlog of resignations," Texas A&M Professor Anthony Klotz said in June.
The Labor Department also reported Tuesday that employers posted 10.6 million job openings in November, down from 11.1 million in October but still high by historical standards.
In its monthly Jobs Openings and Labor Turnover Survey (JOLTS) the Labor Department also reported that employers hired 6.7 million people in November, up from 6.5 million in October.