National "Quit Rate" on the Rise
Monday, July 7th, 2014 -- 9:58 AM
(Milwaukee Journal) -In the darkest days of the last recession, few among those who had jobs were able, willing or bold enough to quit them.That is changing, however, according to a statistic called the national "quit rate," which some might call the "Take this job and shove it" index. The figure shows that the percentage of Americans who are jumping ship voluntarily is hovering at its highest levels in the four-year recovery.
Many see the shift as a sign of optimism for an economy that has sputtered its way through an on-again, off-again rebound from the demoralizing downturn of 2008-'09. Statistics show that when times are good and workers are in high demand, employees quit more frequently than when unemployment is high and workers lack confidence.
In the private sector, the percentage of working-age Americans who voluntarily left their job stood at 2.0% in April, up from 1.8% one year earlier and 1.4% at its lowest level in 2009, according to the U.S. Bureau of Labor Statistics. That works out to an estimated 2.34 million workers who gave notice in April, compared with 1.54 million at the trough of the slump.
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