A record 4.5 million Americans quit jobs in November

Many analysts see the large number of resignations as a sign that workers are confident in their ability to land better jobs as the market continues to bounce back. The Labor Department also reported Tuesday that employers posted 10.6 million job openings in November. That was down from 11.1 million in October but still high by historic standards. Employers filled 6.7 million of those positions in November, up slightly from the month before.

What does this mean for the job market? Analysts say the record number of quits indicates a recovering economy and better bargaining power for workers, which will likely result in wage increases. The United States is now 3.9 million jobs short of pre-pandemic levels, and the unemployment rate stands at 4.2 percent.

Dig deeper: Read stats on America’s “Great Resignation” in a recent issue of WORLD Magazine.