Millions of workers left jobs for cash incentives, better pay or better benefits
The number of workers quitting last month fell in health care and social assistance jobs, as well as restaurants, hotels and construction. Quits went up in nondurable good manufacturing.
Even though a record number of people quit their jobs last year, the US labor market still recorded a net employment gain of 6.4 million.
In total, 75.3 million workers where hired last year, while 68.9 million quit, were laid off or discharged. Out of these so-called separations, 47.4 million were voluntary quits.
In line with that, the number of layoffs hit a new record low at 1.2 million in December, showing that the negative impact from the Omicron variant didn’t fully hit the labor market at the end of last year.
Worker shortage continues
The world’s largest home improvement retailer said Tuesday that job applicants “could receive an offer within one day of applying.”
Home Depot said the “accelerated” hiring process is part of its plan to hire more than 100,000 new associates ahead of its busy spring season.
“In today’s climate, jobseekers are shopping for the best opportunity,” Eric Schelling, Home Depot’s vice president of global talent acquisition, said in a statement.
To attract workers, Home Depot said it offers jobseekers various incentives, including upskilling programs, tuition reimbursement, a cash bonus program and discounted stock purchases.
–CNN’s Matt Egan contributed to this report.
