October 21, 2026
The Upjohn Institute is pleased to announce the inaugural release of the New Separations Quality Index (NSQI). An analogue to the New Hires Quality Index (NHQI), it will cover newly separated workers rather than newly hired workers. NSQI releases will present monthly changes and trends in the overall wage and volume indexes.
This month, author Brad Hershbein shows that the inflation-adjusted hourly earning power of individuals leaving their jobs in July 2026 held steady from the previous month at $22.90. The index is up 0.7% from July 2025 and is very close to high over the last decade. Separations volume, in contrast, has changed little in 2026 but has risen 4.1% since last July, when it was near record lows.
Although separations volume seems to have stabilized recently, continued growth in the wage index suggests that higher-earning workers are increasingly driving separations.
You can find these trends about the state of separations—as well as breakdowns for many demographic groups—in the accompanying interactive database and report.