The Great Resignation: Monthly Quits Hit Record 4.4M
Over 4.4 million Americans quit their jobs in September, up 164,000 over August and the most on record for a single month.
According to the U.S. Bureau of Labor Statistics, this represents 3% of the U.S. workforce and broke the previous record just set in August.
Industries experiencing the largest increase in quits include arts, entertainment, and recreation (56,000), other services (47,000), and state and local government (30,000), while the wholesale trade industry saw the largest decline in quits (-30,000).
The number of job openings remained relatively unchanged at 10.4 million, reflecting the significant turbulence the job market is currently experiencing.
The number of hires remained nearly unchanged at 6.5 million.
In the past 12 months, there have been 73.3 million hires, and only 67.7 million separations—which consists of quits, layoffs, discharges, and other separations—leaving a net total of 5.6 million hires.
‘Jobs Are Out There’
Connecticut has experienced 10 consecutive months of job gains, although the pace of the state’s jobs recovery continues to trail the region and the rest of the country.
“Although there are a record number of people leaving their jobs, there are still over 10 million job openings, including about 70,000 in Connecticut,” CBIA president and CEO Chris DiPentima said.
“The jobs are out there, they just aren’t being filled.”
In CBIA’s annual Survey of Connecticut Businesses, 80% of employers reported difficulty finding and retaining employees and 35% said the labor shortage is the greatest obstacle to growth.
In addition, respondents want lawmakers to focus on investing in education and trade schools (22%) and funding for training programs (21%).
And more than one-third (35%) said the availability of skilled job applicants is the main factor hampering growth in Connecticut.
“Business leaders in Connecticut have made their message loud and clear,” DiPentima said. “We are facing a skilled-labor shortage in the state that is hurting businesses, workers, and the state’s economic recovery.”
Recent efforts have been made by Connecticut to combat this skilled labor shortage.
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