Quits Rate

The Quits Rate is a labor market indicator published monthly by the U.S. Bureau of Labor Statistics as part of the Job Openings and Labor Turnover Survey, measuring voluntary resignations as a share of total employment, distinct from layoffs and other involuntary separations. Because a worker who quits typically does so with a new job already lined up or with confidence in finding one, the quits rate is read as a signal of worker bargaining power and labor market tightness. The measure drew wide attention during 2021 and 2022, when the quits rate and job openings both reached record highs during the period popularly labeled the Great Resignation.