While workers globally are quitting, shifting, and being let go at a staggering collective cost of trillions, understanding the nuanced global statistics of labor turnover—from the United States' quits rate of 2.2% to the UK's annual churn of 22.3%—reveals the pressing economic and human realities behind every separation.
Key Takeaways
- In the United States, the total separations rate for total nonfarm industries was 3.3 percent in March 2024, with quits at 2.2 percent, layoffs and discharges at 0.9 percent, and other separations at 0.2 percent
- The US quits rate in the private sector reached 2.4 percent in February 2024, the highest since mid-2022, indicating strong voluntary turnover
- US job openings totaled 8.756 million in March 2024, down from 8.819 million in February, reflecting a slight cooling in labor market dynamics affecting turnover
- In the US leisure and hospitality sector, quits rate was 5.0 percent in March 2024
- US professional and business services had a hires rate of 4.8 percent and separations of 4.2 percent in March 2024
- Manufacturing sector in US saw layoffs at 0.7 percent in Q1 2024, lower than average
- US age 25-34 workers had quits rate of 3.1 percent in March 2024, highest demographic
- Women in US labor force had higher voluntary turnover at 2.6 percent quits vs 2.0 percent for men in 2023 annual
- US workers with bachelor's degree or higher had turnover rate 2.8 percent quits March 2024
- US quits rate peaked at 3.0 percent in late 2021 amid Great Resignation
- Global turnover rates fell 15 percent post-2022 peak per Mercer 2024 survey
- US JOLTS separations rate averaged 3.7 percent in 2022, down to 3.4 percent 2023
- Voluntary turnover cost US employers $680 billion in 2023, up from $600B 2022
- Replacing one employee costs 33 percent of annual salary per SHRM 2023 study
- High turnover reduces US GDP by 1.5-2 percent annually estimated $1 trillion loss
Global labor turnover rates vary greatly by industry, region, and workforce demographics.
Demographic Statistics
- US age 25-34 workers had quits rate of 3.1 percent in March 2024, highest demographic
- Women in US labor force had higher voluntary turnover at 2.6 percent quits vs 2.0 percent for men in 2023 annual
- US workers with bachelor's degree or higher had turnover rate 2.8 percent quits March 2024
- Hispanic or Latino US workers separations 3.9 percent March 2024
- US 55+ age group lowest quits at 0.9 percent in 2024
- Black or African American US hires rate 4.2 percent, higher turnover exposure
- Less than high school US workers turnover 4.1 percent separations 2024
- Full-time US workers quits 2.3 percent vs part-time 3.5 percent March 2024
- Veterans in US workforce turnover 11.5 percent higher than non-vets 2023
- Gen Z US entry-level turnover 30 percent within first year 2023
- Remote workers US voluntary turnover 1.8 percent lower than on-site 2023
- Union members US lower separations 1.5 percent vs non-union 2.8 percent 2023
- Immigrants in Canada turnover 22 percent higher than natives 2022
- US Midwest region quits rate 2.0 percent March 2024, lowest regionally
- High-income earners US (>100k) turnover 9.3 percent 2023
- Low-wage US workers (<15/hr) turnover 5.2 percent quits 2024
- Mothers returning post-maternity US turnover 25 percent within year 2023
- US Northeast separations 3.1 percent vs South 3.5 percent March 2024
- US West region highest job openings driving turnover 5.1 percent rate 2024
Demographic Statistics Interpretation
The data paints a stark picture: from Gen Z's restless first year to the seasoned stability of workers over 55, the American labor market is a churning sea of ambition, frustration, and circumstance, where the decision to stay or go is dictated by a complex calculus of age, pay, role, and zip code.
Economic Impacts
- Voluntary turnover cost US employers $680 billion in 2023, up from $600B 2022
- Replacing one employee costs 33 percent of annual salary per SHRM 2023 study
- High turnover reduces US GDP by 1.5-2 percent annually estimated $1 trillion loss
- Healthcare turnover costs US $4.6 billion yearly in nurse replacements alone 2023
- Productivity loss from turnover averages 20-30 percent per new hire ramp-up
- UK firms lose £30 billion annually to turnover-related absences 2023
- Global corporate turnover costs $1.8 trillion yearly per Gallup
- Retail industry turnover costs US $11 billion in training alone 2023
- One point increase in turnover rate reduces firm market value 2.1 percent
- Turnover-linked overtime costs US manufacturers $2.5 billion 2023
- Tech turnover costs average $100k per engineer departure 2024
- Absenteeism from turnover morale hit costs 15 percent of payroll
- EU SMEs turnover costs 10-15 percent of revenue annually
- Customer satisfaction drops 5-10 percent with high staff turnover per studies
- Innovation loss from key talent turnover 20 percent productivity dip first year
- Training investment lost 50-200 percent salary equivalent per turnover event
- High turnover correlates with 21 percent lower profitability per Gallup meta-analysis
- Legal costs from turnover disputes average $5k per case in US 2023
- Recruitment fees 16-20 percent salary for mid-level hires amid turnover
Economic Impacts Interpretation
The staggering price of preventable churn amounts to a trillion dollar drag on the economy, revealing that losing people is far more expensive than keeping them satisfied.
Industry Breakdowns
- In the US leisure and hospitality sector, quits rate was 5.0 percent in March 2024
- US professional and business services had a hires rate of 4.8 percent and separations of 4.2 percent in March 2024
- Manufacturing sector in US saw layoffs at 0.7 percent in Q1 2024, lower than average
- Healthcare and social assistance in US had job openings rate of 6.2 percent in March 2024, driving turnover pressures
- Retail trade US separations rate was 3.8 percent in March 2024, with quits at 2.5 percent
- Construction industry US hires rate dropped to 4.1 percent in March 2024 from 4.5 percent prior
- US finance and insurance sector turnover rate averaged 2.1 percent quits in 2023
- Information sector in US had high job openings at 5.3 percent in tech hubs 2024
- Education services US separations 1.9 percent in March 2024, stable
- Wholesale trade US low turnover at 1.8 percent separations March 2024
- Transportation and warehousing US hires 3.9 percent amid supply chain issues 2024
- Utilities sector US minimal turnover 1.2 percent quits 2023 average
- Mining and logging US high separations 3.5 percent due to volatility March 2024
- In US hospitality, annual turnover hit 97.7 percent in 2023 per Deloitte study
- Tech industry global average turnover 13.2 percent in 2023, highest for software devs at 18.4 percent
- Healthcare turnover in US nursing was 27.2 percent in 2023
- Retail sector UK turnover 38.5 percent annual 2023
- Manufacturing EU average turnover 12.1 percent 2022
- Finance sector Australia turnover 14.7 percent 2023
Industry Breakdowns Interpretation
The American workforce is conducting a grand game of musical chairs where hospitality workers are sprinting to the exit, healthcare is holding a perpetual job fair, and everyone in utilities is apparently too comfortable to move, highlighting a market where the desire for better conditions is clashing loudly with economic uncertainty.
National Rates
- In the United States, the total separations rate for total nonfarm industries was 3.3 percent in March 2024, with quits at 2.2 percent, layoffs and discharges at 0.9 percent, and other separations at 0.2 percent
- The US quits rate in the private sector reached 2.4 percent in February 2024, the highest since mid-2022, indicating strong voluntary turnover
- US job openings totaled 8.756 million in March 2024, down from 8.819 million in February, reflecting a slight cooling in labor market dynamics affecting turnover
- In the EU-27, the job-to-job mobility rate, a proxy for turnover, averaged 2.1 percent in 2022 across member states
- UK's total labour turnover rate stood at 22.3 percent annually in 2023, with separations driven by resignations at 14.5 percent
- Canada's separation rate was 1.8 percent monthly in Q1 2024, with quits comprising 1.1 percent
- Australia's employee turnover rate was 8.9 percent in the year to February 2024, highest in accommodation and food services at 19.2 percent
- Japan's job separation rate was 2.8 percent in 2023, low due to lifetime employment norms
- In Germany, the quit rate was 1.2 percent quarterly in 2023, per IAB data
- France's job-to-job transitions rate was 2.5 percent in 2022
- Italy's annual turnover rate averaged 15.6 percent in 2023, high in services
- Spain's separations rate spiked to 3.1 percent monthly in Q4 2023 amid economic recovery
- In India, urban labor turnover rate was 12.4 percent in 2022-23 per PLFS
- Brazil's formal sector turnover rate was 28.7 percent in 2023
- South Africa's quit rate was 4.2 percent in Q4 2023
- China's urban job turnover rate estimated at 18.5 percent in 2023
- Mexico's separation rate was 2.9 percent monthly in 2023 average
National Rates Interpretation
It seems the global workforce is in a restless mood, with employees confidently quitting like never before in the US while the UK and Australia practically reinvent the job-hopping trend, yet in places like Japan and Germany, they're still brewing their tea—or coffee—at the same old desk.
Temporal Trends
- US quits rate peaked at 3.0 percent in late 2021 amid Great Resignation
- Global turnover rates fell 15 percent post-2022 peak per Mercer 2024 survey
- US JOLTS separations rate averaged 3.7 percent in 2022, down to 3.4 percent 2023
- EU labour turnover declined 8 percent YoY in 2023 after pandemic highs
- UK quits rate rose from 1.4 percent pre-COVID to 2.6 percent peak 2022
- Australia turnover surged 25 percent in 2022, stabilized at 9 percent 2024
- Japan turnover increased 12 percent from 2021 to 2023 due to labor shortages
- Canada voluntary turnover doubled from 0.8 to 1.6 percent 2021-2022
- US healthcare turnover dropped from 30 percent 2022 to 24 percent 2024
- Tech sector turnover fell 20 percent globally from 2022 peak of 20.8 percent
- Pre-2020 US average annual turnover 42 percent, spiked to 47 percent 2021-22
- OECD countries average quit rate up 0.5 percent 2020-2023
- India turnover stable at 12-14 percent 2019-2023 despite economic shifts
- Brazil turnover decreased 5 percent YoY 2023 after 2022 inflation peak
- South Africa turnover rose steadily 3.8 to 4.5 percent 2021-2023
- US layoffs rate lowest on record 1.1 percent average 2023
Temporal Trends Interpretation
It seems the pandemic sent everyone on a global game of musical chairs, but by 2024 the music had mostly stopped—except for the UK, which is still dancing.
Sources & References
- Reference 1BLSbls.govVisit source
- Reference 2ECec.europa.euVisit source
- Reference 3ONSons.gov.ukVisit source
- Reference 4STATCANwww150.statcan.gc.caVisit source
- Reference 5ABSabs.gov.auVisit source
- Reference 6STATstat.go.jpVisit source
- Reference 7IABiab.deVisit source
- Reference 8DARESdares.travail-emploi.gouv.frVisit source
- Reference 9ISTATistat.itVisit source
- Reference 10INEine.esVisit source
- Reference 11MOSPImospi.gov.inVisit source
- Reference 12GOVgov.brVisit source
- Reference 13STATSSAstatssa.gov.zaVisit source
- Reference 14STATSstats.gov.cnVisit source
- Reference 15BANXICObanxico.org.mxVisit source
- Reference 16DELOITTEwww2.deloitte.comVisit source
- Reference 17LINKEDINlinkedin.comVisit source
- Reference 18NSIONLINEnsionline.comVisit source
- Reference 19PEOPLEMANAGEMENTpeoplemanagement.co.ukVisit source
- Reference 20DOLdol.govVisit source
- Reference 21GALLUPgallup.comVisit source
- Reference 22SHRMshrm.orgVisit source
- Reference 23EPIepi.orgVisit source
- Reference 24PEWRESEARCHpewresearch.orgVisit source
- Reference 25MERCERmercer.comVisit source
- Reference 26MHLWmhlw.go.jpVisit source
- Reference 27ACHIEVE-CEachieve-ce.comVisit source
- Reference 28COMPENSATIONFORCEcompensationforce.comVisit source
- Reference 29STATSstats.oecd.orgVisit source
- Reference 30PLFSplfs.gov.inVisit source
- Reference 31IBGEibge.gov.brVisit source
- Reference 32STATSAstatsa.gov.zaVisit source
- Reference 33FREDfred.stlouisfed.orgVisit source
- Reference 34REPLACEMENTTURNOVERreplacementturnover.comVisit source
- Reference 35NSInsi.nationalhealthcare retention.comVisit source
- Reference 36HBRhbr.orgVisit source
- Reference 37CIPDcipd.orgVisit source
- Reference 38NRFnrf.comVisit source
- Reference 39NBERnber.orgVisit source
- Reference 40NAMnam.orgVisit source
- Reference 41FORBESforbes.comVisit source
- Reference 42MCKINSEYmckinsey.comVisit source
- Reference 43ADPadp.comVisit source
- Reference 44ROBERTHALFroberthalf.comVisit source