![]() ![]() For 12 months during the pandemic, there were over 1 million fewer resignations than expected based on the pre-pandemic trend. During the worst of the pandemic, the number and rate of resignations were well below normal, as many workers held onto jobs amid the uncertain labor market. This “Great Resignation” is at least partially delayed resignation. In August, 408,000 people quit their jobs, accounting for 2.5% of the state’s workforce, an historically high share. Even though job openings are also historically high, turnover among those already employed contributes to slower job growth overall. ![]() The “Great Resignation” is a little less great in California than nationally, but more Californians quit their jobs in August than at any point in the last two decades. Job openings and resignations are historically high. At the same time, historically high levels of job turnover-coined by some as the “Great Resignation”-along with high levels of job openings and wage growth complicate the picture of economic recovery. Nineteen months after the onset of the pandemic, California’s unemployment rate is tied for the highest in the nation (7.5%), and the state has yet to recover one-third of the jobs lost in early 2020. ![]() California’s labor market recovery slowed in September, as employers added just half as many jobs this month (47,400) as last, the lowest monthly gain since January. ![]()
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