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3 Million Americans Quit Their Jobs In May – Here’s Why That’s a Good Thing

resign, quitA client of mine forwarded me a newsletter from Marc Cenedella, founder of The Ladders, with some very intriguing job numbers – the primary one being that 3 million Americans quit their jobs this past May!

But Cenedella’s take is that this is a good thing, and I agree. Here’s why.

The reason people are quitting their jobs at such a high rate are because the job market is the strongest its been in a decade, and companies are more confident in being able to hire people. In turn, more employees are comfortable finally quitting their job and going after a new one.

In short, more openings leads to more people quitting, which then leads to more openings.

It’s a cycle, but it’s one that helps open the door for people to get new jobs.

Some more stats from the newsletter:

  • The last time the number of people quitting in one month was over 3 million was May 2007, and the current level is the highest since April 2001.
  • Hires, too, are the best they’ve been, with over 5 mm new hires per month for the past three years straight. That’s also the highest level we’ve seen since 2007.

Again, this is encouraging news!

So, what’s the takeaway? This new job market means it may be time for you to make a change.

Whether that means quitting your job, finding a new one, or (if you’re in management) finally pulling the trigger on hiring someone new, now might be a good time to make a move.

You can check out an archive of Cenedella’s other newsletters here.