Record number of Americans quit their jobs before the holidays

[Yo_Mama_Been_Loggin]

Americans quit their jobs in record numbers ahead of the holidays, with an all-time monthly high of 4.5 million people handing in their resignations in November, according to newly released government data.

That figure surpasses the previous high reached in September, when 4.4 million people left their jobs. Leisure and hospitality companies, such as restaurants, bars and hotels, saw the greatest number of employee exits, with more than 1 million workers quitting in November alone, the U.S. Department of Labor said on Tuesday. That represents an increase of 60% for the industry, a major employment sector, compared with a year earlier.

The data suggests that "Great Resignation," as some experts have labeled the trend, continues apace amid an extremely tight labor market. With workers in high demand, bosses are raising wages and dangling incentives such as hiring bonuses. That is providing opportunities for many employees to quit lower-paying jobs in favor of more lucrative work.

"People who quit are taking other jobs, not leaving the workforce," tweeted Heidi Shierholz, the former chief economist at the Labor Department and now president of Economic Policy Institute, a left-leaning think tank.

https://www.msn.com/en-us/money/markets/record-number-of-americans-quit-their-jobs-before-the-holidays/ar-AASqi9s

[VarryOn]

1. Annual bonuses at many companies aren't paid out until...

Mid to late January after earnings are released. I suspect many will wait until then before quitting. Generally, you have to be an employee the day the bonus is paid, else you don’t get it.