"Quit rate" hits post-recession peak

|By:, SA News Editor

The proportion of workers who voluntarily left their jobs - known as the "quit rate" - rose to a post-recession high of 1.8% in November.

That compares with a low of 1.2% in September 2009 but is well under the average of 2.1% from 2000-2006.

Some economists, including new Fed Chief Janet Yellen, like to look at the quit rate as a sign of the economy's health, with the theory being that many people resign their jobs either because they have a new one or are confident of finding another position. Staff who leave their jobs also open up positions for other people.