U.S. workers handed in nearly 20 million resignations this spring and summer. 'Everybody quitting is saying, 'I became part of the Great Resignation.''
In August, a seasonally adjusted 4.3 million resignations were handed in, according to the Bureau of Labor Statistics. Though August is a traditionally high turnover month, in part because many teens and 20-somethings leave jobs to go back to school, the figure sets a record since the BLS started tracking it in 2000.
The sheer number of quits helps explain why so many employers are struggling to fill hiring gaps, said Danny Nelms, president of the Work Institute, a consulting firm that conducts 40,000 exit interviews each year for companies. At the same time, many workers have a rare edge: Jobs are plentiful, wages are rising and companies are competing for talent, he said.‘This [pandemic] has been going on for so long, it’s affecting people mentally, physically.
Certain industries are churning more workers than others. People left healthcare, retail and food services at especially high rates at the end of the summer. Workers also left jobs at an accelerating pace across the Midwest and South. Texas and Florida have a high concentration of the industries seeing the greatest churn, including travel and hospitality.
Waves of resignations are typically led by employees with less tenure. The rate of more tenured employees who quit between January and August of this year also increased compared with the same period last year, according to research from workforce analytics company Visier Inc., which studied employee activity for hundreds of thousands of workers across 50 large U.S. companies.
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