Americans are quitting jobs at record rates, while job openings tick down

Americans quit their jobs at a record-high pace in August, with almost 3% handing in their resignations, the government reported on Tuesday. The number of quits increased in August to 4.3 million, which is 242,000 more than in July. The quits rate increased to a series high of 2.9%.

By comparison, employers laid off 1.3 million workers. 

The Labor Department said the jump in quits is the highest on records dating back to December 2000, and up from 4 million in July. Hiring also slowed in August, the report showed, and the number of open jobs fell to 10.4 million, from a record high of 11.1 million the previous month.