4.3 million workers quit jobs in December: BLS

As the labor market remained unsettled and the Omicron variant swept through the country, some 4.3 million workers quit their jobs in December. This number is lower than the all-time high numbers in November but still near record levels. In a survey from the BLS, employers reported 10.9 million job openings, which is well-above pre-pandemic averages. December proved to be a disruptive month for the labor market. 

As schools and daycares shut down to the spread of the virus, parents scrambled to navigate their work-life while also finding childcare. There were sudden outbreaks at work and employees grappled with it. All of these magnified the desire for many workers to leave their jobs. By the second half of 2021, almost 4 million workers resigned every month. Many of them departed to find jobs that paid better and had better benefits and flexible schedules. 

This labor shortage means that many companies are now raising wages, adding cash bonuses and competing with each other for workers. Employers have been sweetening the pot in many other ways to attract more applicants. This, in turn, has created a climate where workers have more leverage and options than at any other time in recent history. 

Source: The Washington Post