Number of people quitting jobs hits another all-time high

The number of people leaving the workforce hit a new record in November, according to data released Tuesday by the Department of Labor.

About 4.5 million workers quit their jobs in November, up from 4.2 million the month before. The number is the highest since the United States began keeping records of the statistic about two decades ago. The figure is equivalent to about 3% of the workforce.

The so-called quits rate measures the number of people who voluntarily left their jobs and includes those who left their previous employment for another job and people who quit but are confident they will soon find new employment, given the tightness in the labor market.