 ICYMI: Job Openings Near High, Southerners Get Biggest Pay Bumps In case you missed it, the number of job openings is near an all-time high, with 11 million new job postings in October, according to the latest figures from the Bureau of Labor Statistics (BLS). The national quits rate—the percentage of people voluntarily leaving their jobs—fell slightly in October to 2.8% from a record high 3% in September.
The number of people quitting their jobs has worsened a national labor shortage, as companies struggle to hire more workers.
The higher quits rate is putting pressure on companies to raise wages, especially in the South. Workers in Southern states quit at the highest rates the last several months, and experienced the biggest increases in hourly wages, according to The Balance's analysis of the Job Openings and Labor Turnover Survey (JOLTS) data and wage statistics from the BLS and the Census Bureau.
Workers in the leisure and hospitality sector have also been fueling the increase in the quits rate over last year—and received greater pay bumps than workers in other sectors. The October 2021 quits rate in leisure and hospitality was 5.7%, the highest across all industries, and more than double the national quits rate.
- Kristin
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