The U.S. Bureau of Labor Statistics recently released a report that showed American workers left their jobs at record-setting rates in August of this year. In that month alone, 4.3 million workers reported leaving their jobs resulting in a mass exodus of workers across the country (aka The Great Resignation). Research shows that workers are demanding higher pay and improved working conditions from employers and also are looking for support they can depend on like childcare, health insurance, and paid sick leave. CivicScience data show that there may be another record-setting level of resignations in the near future. As of early November, 13% of workers say they plan to leave their current jobs soon.
When analyzing the population of workers who have left their jobs, it’s clear that they also are more likely than others to say they place a higher value on their personal time over money now compared to the pre-pandemic world. While there are undoubtedly other factors at play when talking about resignation numbers skyrocketing, data show that there’s been a serious shift in priorities among workers.
But, higher pay is still obviously a key factor for workers – especially those who are thinking about jumping ship. In fact, wage growth among job searchers is up nearly 7% according to ADP’s most recent Workplace Vitality Report. Unsurprisingly, those who say they switched jobs are more likely to be financially better off now than before the pandemic, while those who left without transitioning to another job or who are planning to quit soon are more likely to be worse off.
Workers who reported leaving their job to work somewhere else are most satisfied with their household income right now. Those who say they plan to quit their jobs soon, who may already be job searching, along with those who left their jobs without switching to a new one are most likely to feel dissatisfied with their current household income. Improved pay is a clear motivator for today’s labor force.
Who is most likely to be quitting and job-switching?
Younger workers are more likely than their older counterparts to have already left their job in the last six months or to have plans to do so soon.
Non-white adults are also more likely to have left their job recently, with the highest incidence seen among Black adults.
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