The Great Resignation appears to have come to an end as more Americans are staying put in their jobs.
The number of U.S. workers that quit their job in 2024 tumbled 11% in 2024 to 39.6 million from the year before, according to Labor Department data released this week and analyzed by The Wall Street Journal.
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The outlet noted that is 22% less than in 2022, when the post-pandemic Great Resignation was at its peak.
Although the labor market is still strong, with layoffs remaining low, work opportunities are becoming scarcer for those who are unemployed. The government reported on Tuesday that there were 1.1 job openings for every unemployed person in December, down from a high of two in March 2022.
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Though business sentiment perked up in the aftermath of President Donald Trump’s victory in November, hiring plans have remained lackluster amid expectations that demand will slow this year because of still-restrictive monetary policy and high prices from tariffs.
The Labor Department’s nonfarm payrolls report that is due on Friday morning is expected to show an increase of 170,000 jobs added in January, down from the much larger than anticipated gain of 256,000 in December.
Reuters and FOX Business’ Matthew Kazin contributed to this report.
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