Great Resignation: 4.4 million quit jobs in February

The worker shortage has been ongoing throughout the pandemic and there are no signs of it being resolved. Reports show that there were 11.3 million job openings in February, which was slightly higher than what economists had predicted. According to the Bureau of Labor Statistics' Job Openings and Labor Turnover Survey (JOLTS), for every job-seeking American, there were just below 1.8 positions available, matching the high from December.

Last month, there were more jobs available in arts, entertainment, recreation, educational services and with the federal government. Meanwhile, the number of American workers who quit their jobs rose to 4.4 million in February, which is higher than the quits number in January. More workers quit in retail, manufacturing and state and local government education jobs. Fewer people quit finance and insurance jobs. 

In terms of hiring, companies hired 6.7 million workers in February. The labor market has recovered much from the early pandemic days and is hiring a lot more now. A better look at the job market and the employment situation is due on Friday when the BLS releases the March jobs report.

Source: CNN