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Quit Rates Soar

According to the Labor Department’s new Job Openings and Labor Turnover Summary report, 4 million people left their jobs in April, with the biggest losses seen in retail trade; professional and business services; and transportation, warehousing and utilities.

As CNBC reports: “Job seekers have a strong hand in the labor market,” says Nick Bunker, an economist with the jobs site Indeed. “Across the country, employers are staffing up to prepare for renewed summer activity as vaccination rates increase and Covid-19 case rates go down. As a result, there’s lots of opportunity for job seekers—a record 9.3 million job openings in April—where workers have the upper hand to negotiate for higher pay, more consistent hours or better accommodations. Some workers may realize their current job, or one they picked up during the unemployment crisis, is no longer a good fit, and they’re able to move on to something better,” Bunker adds.

Though some economic observers expect the labor market to tighten once federal unemployment benefits end in September, “Indeed’s data indicates the share of national job search activity in four states ending federal UI on June 12—Alaska, Iowa, Mississippi and Missouri—is actually lower today than it was in late April,” CNBC reports.

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Drew Limsky

Drew Limsky

Editor-in-Chief

BIOGRAPHY

Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the world’s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Men’s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.