Natural wastage

Updated: Aug 20, 2021

The proportion of the labour force who quit their jobs each year for reasons other than being sacked by their employer. This includes workers who retire, and those who leave for personal reasons. An appreciable percentage of a firm’s labour force may leave in any year and this often makes possible gradual reduction in the labour force without the need for redundancies.

Reference: Oxford Press Dictonary of Economics, 5th edt.

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James Knight
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James is a lead content editor for Invezz. He's an avid trader and golfer, who spends an inordinate amount of time watching Leicester City and the… read more.