The “Great Stay” deepened in November as the number of people who quit their jobs that month dropped to under 3.1 million, a level not seen since the height of the pandemic.
The latest Job Openings and Labor Turnover Survey report, which was released Tuesday, also showed that hiring activity remained at a decade-low, a further indication that a much cooler labor market is at hand.
Despite continued signs of a broader slowdown, Tuesday’s report from the Bureau of Labor Statistics showed that layoff activity held fairly steady in November. Additionally, the number of job openings increased to 8.1 million, its highest level since May.
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