Workers Are Quitting Hotel and Restaurant Jobs at the Highest Rate on Record
(Bloomberg) -- This morning we got news that there’s a record-high level of job openings in the U.S. right now. This is probably no surprise to many people, as we’ve been inundated with stories about the difficulty that firms are experiencing in terms of hiring.
This morning’s National Federation of Independent Business survey showed the same thing, with a record high 48% of companies saying they have unfilled openings.
But it’s not just that hiring is strained. Workers are also quitting at increasing rates, at least according to government data. And it’s especially acute in the food and hotel industries.
Per this morning’s JOLTS report, 5.6% of workers in the accommodation and food-services industry quit their job in April, up from 5.4% the previous month. This is record territory.
Of course, the more restaurants and other service industries make a point of how aggressively they’re trying to hire, the more workers will feel comfortable leaving a job, knowing that other opportunities await them.
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