No. of Recommendations: 5
American Workers Have Quit Quitting, for Now
The job-hopping frenzy of the pandemic years has given way to what some economists are calling the ‘big stay’
Americans aren’t as restless in their jobs as they were a couple of years ago.
Numerous surveys show that fewer U.S. adults are currently seeking to leave their roles, compared with the job-switching frenzy of the pandemic years. Other data suggest job satisfaction is rising, and in interviews, formerly job-hopping workers say they’re content with the balance they’ve struck in the positions they have.
Those who are tempted to make a jump face a tightening job market and shrinking pay premium for switching jobs, federal data show. “Applying for jobs right now, it’s like hitting your head against the wall,” says Heather Sundell, a director of social strategy and copywriting in Los Angeles.
The current mood is a turn from recent years, when a red-hot labor market helped spur a wave of quits among American workers, or the “great resignation.” So different is the current mood that some labor economists have dubbed it the “big stay.” wsj.com - American workers staying jobsI wonder if this is a rebound effect of it being
so easy to job hop when employers were desperate for workers, but now it’s getting harder and harder to get through the front door and/or the “job hoppers” are just tired of starting over, and over? Unfortunately the article doesn’t really delve very deeply into the reasons WHY, but offers this:
A poll from April shows that 35% of U.S. adults plan to look for another job in the second half of this year, down from 49% a year ago, according to Robert Half, the workplace consulting and recruiting firm. Of 1,000 workers polled, 77% said they were happy with their jobs and 85% reported a good work-life balance.
“People feel really satisfied with their compensation and they are very happy with their flexibility, which are two big drivers,” says Dawn Fay, Robert Half’s operational president. Another recent study of 2,800 working adults by MetLife found 73% were satisfied at work, up from 69% a year ago.
The number of U.S. workers who quit their jobs in one month peaked at 3% in April 2022, according to Labor Department data, prompting many employers to boost salaries, give more time off and offer flexible schedules in an attempt to retain talent. Since then the U.S. rate of quitting has drifted below prepandemic levels to 2.2%, where it has held steady so far this year. It could also be that employers are pretty much happy and aren’t offering the great wage disparities that were prevalent a year or two ago (wage increases have moderated) so there’s less incentive to jump.
