Voluntary Quits Dipped in September
New data from the U.S. Bureau of Labor Statistics (BLS) suggests that voluntary quits among tech pros declined in September, with 489,000 opting to leave their jobs. That’s in contrast to August, when 516,000 parted ways with their current employers. In the third quarter of 2015, an average of 499,300 tech pros quit every month. The BLS relies on its Job Openings and Labor Turnover Survey (JOLTS) program to come up with the data about voluntary quits. Pundits and analysts treat voluntary quits as an indicator of broader economic health. A half-million voluntary quits per month suggests that employees feel confident enough about their industry to leave their current jobs in favor of better opportunities at other employers. Their departures might also tie into freelance opportunities; according to recent survey data by Upwork and the Freelancers Union, freelancers are also enjoying high rates of pay. The tech industry’s current unemployment rate stands at 2.8 percent, outperforming the broader U.S. economy, where the rate is 5.0 percent. While that’s strong, not all tech sectors are performing equally; for example, the data processing, hosting, and related services segment lost jobs, while consulting and manufacturing both gained jobs. As with all things tech, though, the employment trends for specific segments could change over the next few quarters, as companies ramp up (or gear down) hiring in response to seasonal and industry trends.