Good News, Economy: Workers Are Quitting

'Quit rate' is highest since recovery began
By Matt Cantor,  Newser Staff
Posted Feb 10, 2014 11:30 AM CST
Good News, Economy: Workers Are Quitting
More Americans aren't going to be filing those TPS reports.   (Twentieth Century Fox)

In November, some 1.8% of the workforce, or 2.4 million people, abandoned their jobs, the Labor Department says—and though some were retiring or leaving work behind altogether, most were exiting because they wanted to find, or had already secured, new jobs. It's the highest "quit rate" since the economic recovery began, the Wall Street Journal reports, and it compares to the low of 1.2% that we hit in September 2009. Economists see a high quit rate as a good thing. If people are willing to leave their jobs, it suggests they feel secure about getting new positions. "A pickup in the quit rate … would signal that workers perceive that their chances to be rehired are good," new Fed chair Janet Yellen recently said, per NPR. What's more, it leaves a spot for someone else to take. New figures tomorrow are expected to show the rate climbed even further in December. (More economy stories.)

Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.