American workers are on the move again, switching jobs in greater numbers in a trend that heralds faster economic growth and a more dynamic labor market.
In September, nearly 2.8 million Americans quit jobs, the most since April 2008, though still below pre-recession highs, according to the Labor Department’s latest seasonally adjusted figures.
The rise in job quitters reflects a strengthening economy that comes ahead of the Labor Department’s November employment report due Friday. Economists predict 225,000 jobs were added last month, the 10th straight month of job gains exceeding 200,000.
Quitters are growing in many types of businesses but most visibly in leisure and hospitality, which has added nearly 2 million jobs since early 2010. In health care, technology and engineering, skilled workers are in such high demand that many are staying in slots for just months before jumping to better-paying positions, says Paul D’Arcy, marketing chief for job site Indeed.com. And a truck driver shortage is sparking bidding wars for talent and high turnover at carriers.
Source: USA Today | Paul Davidson