quits rate

The quit rate measures how many employees voluntarily leave their jobs within a specific period, usually a month or a year. It is expressed as a percentage of the total workforce. For example, if 50 people leave a company of 1,000 employees over a year, the annual quit rate is 5%. This rate indicates the level of voluntary turnover in an economy or industry; higher rates often reflect a strong job market with better opportunities, while lower rates may suggest fewer available jobs or higher worker retention.