JOLTS Quits Rate

## What this measures

This measures the rate at which employees voluntarily leave their jobs, expressed as a percentage of total nonfarm employment. It comes from the Job Openings and Labor Turnover Survey conducted monthly by the Bureau of Labor Statistics.

## Why it matters

A higher quits rate indicates that workers feel confident enough in the labor market to leave their current positions, which can signal increased wage pressure and tighter competition for talent. When the rate falls, it suggests employees are less willing to move, often because they see fewer alternatives or worry about economic conditions.

## How to read it

A rising quits rate signals stronger worker confidence and a tighter labor market. A falling rate suggests diminishing confidence or fewer opportunities. Compare current levels to historical ranges to assess whether the labor market favors employers or workers.

## What it does not say

This does not distinguish between quits driven by better opportunities and those driven by dissatisfaction or other personal reasons. It also does not reveal which industries or occupations are experiencing turnover or what wages employers are offering to retain or attract workers.

## Source

Palanor pulls this series from the FRED API (Federal Reserve Bank of St. Louis) nightly. The underlying data is FRED series JTSQUR, published by the Bureau of Labor Statistics as part of the Job Openings and Labor Turnover Survey.