The so-called Great Resignation lost some steam in October, with the total amount of workers leaving their jobs either due to dissatisfaction or better opportunities elsewhere declined, the Labor Department reported Wednesday.
Job quitters declined by 4.7%, falling to 4.16 million from 4.36 million, the department said in its Job Openings and Labor Turnover Survey. The rate as a share of the workforce fell from 3% to 2.8%.
The JOLTS report is closely watched at the Federal Reserve and elsewhere for signs of labor market tightness.
While the quits rate dropped, the level of job openings accelerated to just below its all-time high. That number totaled 11.03 million, an increase of 4.1% as the rate increased to 6.9% from 6.7%.
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