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Definition of Quits Rate

Definition: Quits Rate

The quits rate is used by the Bureau of Labor Statistics to track how many people are quitting their jobs. The most recent Job Openings and Labor Turnover Survey reports that in recent months, the quits rate has been at its lowest since 2000, when the government started the tracking system.

The drop in the number of quits shows how unwilling (or unable) Americans are to give up their jobs. Plenty of people probably have the desire to leave their current positions, but the lack of opportunities and general economic uncertainty are deterring them from making the jump.



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