Business Insider: "Why you should be celebrating the record number of people saying, 'I quit'"

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Business Insider: "Why you should be celebrating the record number of people saying, 'I quit'"

Excerpt from Business Insider quoting DataTrek co-founder Jessica Rabe:

…. “DataTrek Research, an economic-research group, tracks what it calls the “take this job and shove it” indicator. That’s the share of job separations that were quits, as opposed to layoffs or other reasons for leaving work.

Jessica Rabe, DataTrek’s cofounder, told Insider in an email that the indicator rose to a record 71.1% in August. She said two-thirds of the month’s increase in quits came from accommodation and food services — an industry that is historically lower-paying and has been hit hard by labor shortages.

“That tells us workers continue to leave the restaurant industry amid challenging demands put on existing staff due to labor shortages and other requirements, such as mask mandates for customers,” Rabe said. And because the quit rate has remained high in leisure and hospitality, “the industry will remain constrained due to the dearth in available workers, which will continue to weigh on overall employment,” she added”….

Read the full article here on Business Insider!