A record 4.4 million people quit their jobs in September, while job openings remained unchanged at 10.4 million, according to data released on Friday by the Bureau of Labor Statistics.
Although jobs are plentiful, companies report difficulty finding workers. But job growth has proven strong in recent months, with 531,000 jobs added in October and upward revisions to earlier months. Overall, the pace of monthly job growth this year has reached an average of 582,000.
Wages, meanwhile, have risen at nearly a 5% annual clip, helping drive inflation to its highest levels since the early 1990s.
The number of quits increased in several industries, led by arts, leisure and education collectively totaling 56,000. Openings increased most in health care and state and local government outside of education, at 141,000 and 114,000, respectively.
President Joe Biden is wrestling with this good news-bad news slate of economic reports and acknowledged on Thursday that people were hurting even though the economy has recovered from the shock of the coronavirus in 2020.
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