Voluntary Quit Rate in August 2021 Reaches 2.9%
The Bureau of Labor’s Job Openings and Labor Turnover report for August 2021 found that the number of job openings declined to 10.4 million, while hires also decreased by a total of 6.3 million.
The voluntary quit rate increased to 2.9%, reaching a new record high, while the layoffs and discharge rate was relatively stable at 0.9%. With the total number of quits increasing to 4.3 million in August it shows that the Great Resignation is upon us and that recruiters will continue to be in high demand.
“We predicted this, the great resignation, and what it really shows is that the demand for candidates is even stronger than it ever was, and what companies need to do is to really step up, double down, put the foot on the gas of all their candidate acquisition programs,” Recruiter.com’s CEO Evan Sohn shared in an interview with Proactive, NY.
The quit rates increased in accommodation and food services, wholesale trade, and state and local government education and decreased in real estate and rental and leasing.
The Job Openings and Labor Turnover Survey for September 2021, is scheduled to be released on Friday, November 12.