The pandemic-era phenomenon known as the Great Resignation remained a hallmark of the labor market in early 2022, according to federal data issued Wednesday.Insurance Industry
Nearly 4.3 million people quit their jobs in January, a slight monthly decline but still near the record level set in November, the U.S. Department of Labor said.
The elevated level in early 2022 comes off a year in which almost 48 million people quit their jobs, an annual record.
‘The Great Resignation is still in full swing, even if quits are moderating somewhat,’ Daniel Zhao, a senior economist at career site Glassdoor, said in a tweet. Job resignations are still up 23% above prepandemic levels, he said.
The data suggests people aren’t quitting their jobs to exit the labor market and sit on the sidelines, economists said. Instead, the high level of resignation indicates a strong job market for workers with ample opportunities, they said.