The big picture: Labor market turnover, characterized by quits and layoffs, has returned to pre-pandemic levels after a period of chaotic churn in 2021-2022.

Why it matters: This normalization indicates a more stable and settled workforce, potentially leading to increased productivity and reduced hiring costs for employers.

Between the lines:

• Voluntary quits declined by 23,000 in August to 3.07 million, accounting for 60% of total separations.
• Layoffs and discharges reached their lowest point since March 2025, at 1.64 million.
• Job openings fell by 256,000 in August to 7.08 million, though still up year-over-year.

Staffing & HR impact: Reduced turnover lessens the pressure on talent acquisition teams, potentially improving recruiter mobility and gross margins as the need for rapid, high-volume hiring subsides. Employers can focus on retention and strategic talent development.

The bottom line: The era of