Though the number of layoffs hit a record low in December, the number of Americans quitting their jobs remained near record territory, the Bureau of Labor Statistics reported. Read more:
Though the number of layoffs hit a record low in December, the number of Americans quitting their jobs remained near record territory, the Bureau of Labor Statistics reported Tuesday, further illustrating the struggle employers are facing in filling—and retaining—jobs during the pandemic. © 2021 Bloomberg Finance LPThe rate of people quitting their jobs was"little changed" at 2.9% in December, with the number of Americans who quit edging down from a record 4.
Meanwhile, the number and rate of layoffs hit 1.2 million and 0.8%, the lowest levels on record, the government said, while the number of hires fell to 6.6 million, from 6.7 million one month prior, despite the red-hot worker demand and high quits rate.The Labor Department's jobs report for January is set to be released Friday, and the White House has already warned the data could be disappointing in light of last month's surge in Covid infections.
last week, adding that Americans “need to be prepared for January employment data that could look a little strange.” Economists expect the unemployment rate to remain flat at about 3.9%, according to Bloomberg.