The incentives to work in the United States are no longer the same as five years ago. According to Statista, while worker resignations reached four million in 2021, layoffs reached almost 14 million, and job openings exceeded ten million.
Changes in the economy brought changes in the work patterns of millions of Americans. Levels of motivation in different demographic groups vary by field of work. In this article, we offer you precise information so that you can guide any decision about your current work status.
Industries With the Highest Quit Rates in 2022
Leaving a job in this era is common. Stagnant wages, poor work-life balance, and inflexible hours are factors that increase resignation rates in strategic sectors of the economy. The latest BLS (Bureau of Labor Statistics) report looks at the industries most affected by this trend.
Mining and Logging
3.2 percent | 14,000 workers
Construction
2.3 percent | 172,000 workers
Manufacturing
2.5 percent | 315,000 workers
Trade, Transportation, and Utilities
3.5 percent | 991,000 workers
Information
1.8 percent | 45,000 workers
Financial Activities
1.8 percent | 164,000 workers
Professional and Business Services
3.2 percent | 711,000 workers
Education and Health Services
2.6 percent | 617,000 workers
Leisure and Hospitality
5.6 percent | 853,000 workers
Federal, State, and Local Government
1.8 percent | 226,000 workers
2021: The Year of the Resignations
According to Business Insider, workers quit at near-record rates for seven consecutive months in 2021. The labor landscape in the United States had important changes in its composition. The workforce migrated from some sectors to concentrate on others.
According to the BLS Job Openings and Labor Turnover Survey (JOLTS), three percent of the 4.4 million Americans who quit their jobs were in the total workforce in September and 2.8 percent in October.
A New Emerging Economy and Job Market
American workers are not satisfied with their current working conditions. In this context, the population began to spend more, save less, and work fewer hours in sectors with more flexibility.
Indeed, workers in the areas of Retail, Leisure and Hospitality, and Accommodation and Food Services led the ‘‘Great Resignation’’ trend in the American territory.
Millions of workers have quit their job as a result of changes in the economy and the job market. Many people are enrolling in coding bootcamps and taking online courses to learn skills that can be useful for them in landing better jobs.
This phenomenon suggests that the old way of working, from wages to flexibility to benefits, needs to change for people to stay in their jobs, that is, to increase job retention.
The Effect of the Pandemic on Worker’s Reasons to Quit
The contraction of the economy and the pandemic are the two main elements of reality that motivate Americans, especially the youngest, to exchange their current jobs for offers with better conditions. The new workers in the United States seek higher wages, more benefits (broader medical coverage, more bonuses, and more), and more opportunities for promotions, among others.
Indeed surveyed more than 1,000 people who voluntarily quit at least two jobs since March 2020. The study showed a strong result. 92 percent of the quitters said that since the pandemic, they felt life was too short to stay in a job they weren't totally passionate about.
Another reason behind workers quitting their jobs is remote work. As the future of work looks like it will become more remote, it’s surprising that 45 percent of people reported that their employers were not flexible with remote work. Thus, leading them to quit in search of a job that favors working from home.
Conclusion
When you decide to quit your current job and accept a better job offer, consider the economy's most stable and least hit sectors. Focus on alternatives that offer good salaries, where you can increase your professional development and your knowledge.
You can attend schools like App Academy, Springboard, Thinkful, General Assembly, Coding Dojo, and more to advance in your career. It is never too late to build or improve your career path.
