Quitters: 3% of the American workforce quit in August

10/12/21 7:00PM

Almost 3% of the American workforce, around 4.3 million people, said "I quit" in August — a record high. In the leisure sector specifically, that number was more like 6% of the workforce.‍

Job buffet

‍People tend not to quit during times of distress (like 2009, or April last year), and so such a high number of quits is, in some ways, a positive sign for the economy.

The record levels of "I quit" also make sense in the context of the other dataset that's near a record high — job openings. With more than 10 million jobs open, quitters clearly feel confident that they'll be able to move onto greener pastures.

For businesses trying to fill open positions, this news is probably less exciting. There are already labor shortages in a number of industries — most notably in those sectors with lots of public contact and relatively low wages, like retail, leisure and hospitality. With quit rates high in all of those sectors, those shortages probably aren't going anywhere.

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Starbucks sells control of China business for $4 billion

Starbucks disclosed on Monday evening in a regulatory filing that it will sell control of its ailing China business to Boyu Capital for about $4 billion.

Under the agreement, Boyu will own a 60% stake in the China segment, which will become a joint venture between Boyu and Starbucks. The coffee chain will retain a 40% interest in the entity and will continue to own and license the brand and intellectual property.

Bloomberg reported earlier this year that the company was looking to sell its China segment. The American coffee giant has struggled to succeed in China, its second-largest market after the US.

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According to this year’s North America Airport Satisfaction Study from data analysts at J.D. Power, overall passenger satisfaction scores were up 10 points (on a 1,000-point scale), largely from “improvements in food, beverage and retail and ease of travel through the airport.” The annual survey measures overall traveler satisfaction across the region’s airports in seven categories (in order of importance): ease of travel, level of trust, terminal facilities, airport staff, airport departure experience, food and retail, and airport arrival experience.

Here are the region’s favorites:

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While a new survey showed Japan has the greatest share of perpetually online people, there was a significant number reporting not using the internet at all.

Quitters: 3% of the American workforce quit in August

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Starbucks sells control of China business for $4 billion

John Wayne Airport in Orange County tops the list of North America’s favorite airports

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