New York (CNN Business)Last year was a historic year for American jobs. A record number of workers quit their jobs while US employers had more positions to fill than ever before.
In December, 4.3 million Americans quit their jobs, down slightly from the record 4.5 million quits in November, the Bureau of Labor Statistics reported Friday.
While millions of workers left jobs for cash incentives, better pay or better benefits, people also left the labor market to care for their children or elderly relatives during the pandemic. Meanwhile, older workers retired early either because they could or because age discrimination forced them out of the labor market.
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, while 68.9 million quit, were laid off or discharged. Out of these so-called separations, 47.4 million were voluntary quits.
Job openings stood at 10.9 million in December, compared with the data series high of 11.1 million recorded in July.
But for US companies, the labor shortage is still as real as it was in the summer. Home Depot has a plan to address the challenge: speedy job offers.
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
This is a developing story. It will be updated
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