In September, for the second consecutive month, it seems many Americans are quitting their jobs at a record pace. Meanwhile, businesses and other employers have posted a near-record number of jobs available for people to take.
On Friday, the Labor Department revealed that 4.4 million people quit their jobs in September, which makes up around 3% of the U.S. workforce. This went up from the number in August, which reached 4.3 million. Additionally, 10.4 million job openings have been recorded, which is less than the 10.6 recorded in August that was revised to be higher.
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These figures show a historic level of turmoil happening in the job market as newly-empowered employees leave their jobs to get ones with higher pay that are being offered by more desperate employers in need of workers. Incomes are going up and Americans’ spending is going up as well. With this, the economy continues to grow, and employers have increased their efforts for hiring to keep up with the pace. Rising inflation, however, has caused an offset in the pay gains of workers.
Many typically perceive people leaving the jobs they hold as a signal of worker confidence. The majority of workers quit for a new position.
Competition for workers is quite intense for companies in retail and delivery, specifically when they get more staff for what is expected to be a bustling winter holiday shopping season.
Online marketplace giant Amazon is currently hiring 125,000 permanent drivers and warehouse personnel, and they offer between $18 and $22 an hour. It also provides sign-on bonuses of up to $3,000.
Seasonal hiring is also going up. For example, delivery company UPS is looking to hire 100,000 more workers to help with the influx of holiday orders. It also plans to make job offers to several applicants within half an hour.