Leisure and Hospitality Workers Quitting at Twice National Rate
November 13, 2021
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Recent government data on the labor market provided fresh insight into the so-called "Great Resignation," with the figures showing that workers in sectors with a lot of face-to-face interaction with other people, like in accommodation and food services, were quitting their jobs in September at record or near-record numbers and at over twice the national rate. The Labor Department's Job Openings and Labor Turnover Survey, released Nov. 12, showed that
a total of 4.4 million U.S. workers quit their jobs in September, a record high. ... But the quits rate in several industries—leisure and hospitality (6.4 percent) and accommodation and food services (6.6 percent)—came in at over twice the national rate...
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"The number of job openings in late September remained extraordinarily high at 10.4 million,"... "At the same time, the so-called great resignation continued to reach new heights with
4.4 million people quitting their jobs with leisure and hospitality leading the way." Of the 4.4 million workers quitting, 863,000 were in accommodation and food services, and 987,000 were in leisure and hospitality. The Labor Department's quits data comes as businesses continue to report difficulties attracting workers, raising wages, and offering perks to bring in badly needed staff... the mismatch between the near-record 10.4 million job openings and the official number of unemployed people in the United States, which the Labor Department said in an earlier report amounted to 7.4 million in October.
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Treasury Secretary Janet Yellen on Friday weighed in on the labor market dynamics and commented on the mismatch.
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"Labor supply is abnormally low, I believe, because of the pandemic." The labor force participation rate, a measure of people working or actively looking for work, has been stuck at a historically depressed level.... While the reason for the lagging labor force participation rate isn't immediately clear,
economists have cited COVID-19 fears among employees returning to the office... the stress of the pandemic prompting a spike in retirements and resignations, along with a lack of access to affordable child care.
"I think part of it reflects concerns about COVID and exposure to COVID... Read more ...
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