The ‘Great Resignation’ slowed down in October, while job openings jumped



A help wanted sign is posted in the window of a hardware store in San Francisco, California.

In October, the total amount of workers leaving their jobs due to unhappiness or better opportunities elsewhere declined, according to the Labor Department.

The department said in its survey that job quitters declined by 4.7%. The rate as a share of the workforce fell.

The Federal Reserve and other places watch the report for signs of labor market tightness.

The level of job openings increased to just below their all-time high. The number increased by 4.1% as the rate went up to 6.9%.

In October, the number of openings was 3.6 million more than those looking for jobs. The more closely followed nonfarm payrolls report showed a gain of 546,000 for the month.

The quits have gone up to what had been record highs. The level is still above where it was a year ago despite the decline in October.

Many workers are reluctant to leave the workforce because of child-care issues or health concerns, but economists think that the exodus will give the jobs market a boost.

The labor force was still less than it was in February 2020. More than 3.5 million people were out of work.

In October, total hires were lower than in the previous month.