By Chris Woodward, The Center Square
THE CENTER SQUARE — Wyoming has among the highest job resignation rates in the country, according to a new report.
The Cowboy State ranks fifth with a 4% resignation rate last month, WalletHub said in the report, which looked at how frequently people are leaving their jobs in all 50 states and the District of Columbia. Only Georgia, Kentucky, Tennessee, and Arizona have higher resignation rates.
Wyoming’s resignation rate over the last year was also 3.64%, the personal finance website found.
Joshua L. Rosenbloom, an economics professor at Iowa State University, said in a statement there are a variety of reasons for why people are leaving their jobs.
“It is clear that employers are struggling to attract workers,” he said. “Many are raising wages, offering bonuses to new employees, or providing other inducements. This is one reason workers are leaving their jobs to take advantage of these inducements.”
“But it has also made it hard for employers to meet demand,” Rosenbloom added. “To some extent, employers want to avoid making permanent commitments to higher wages if the current conditions are temporary, so they may be expanding supply less and raising prices more.”
Wyoming’s unemployment rate was 3% in July. The national rate is currently 3.7%.
The Center Square is a 501(c)(3) non-profit focused on state- and local-level government and economic reporting.