Almost-Record High 4.3M Americans Quit Jobs in December as Layoffs Dropped to New Low

Even though the number of layoffs hit a record low in December, the number of Americans quitting their jobs remained near-record level.

Source: US Bureau of Labor Statistics

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There were 10.9 million job openings at the close of December, increasing slightly from 10.6 million a month earlier and not far from the record 11.1 million.

The rate of people quitting their jobs was nearly the same at 2.9% in December, with the number of Americans who quit dropping down from a record 4.5 million in November to 4.3 million. Increase in quits signals employment flexibility

The data signal that vacancies remained high in December despite short-term business closures at the end of the month due to the spread of the Omicron variant.

Meanwhile, the number and rate of layoffs soared to reach 1.2 million and 0.8%, the lowest levels on record as the number of hires dropped to 6.6 million, from 6.7 million one month earlier.