Why are people in the US quitting their jobs guide, American workers loss report, Financial rewards
Why are people in the US quitting their jobs
24 Jan 2022
People in the US are quitting their jobs, here’s why?
The news, first reported by the Wall Street Journal (WSJ), comes as global markets attempt to capitalize on a fresh spate of revenge spending and suppressed demand.
The figures, which were published by the American Enterprise Institute (AEI) in July, also suggest more workers are willing to change jobs as they seek greater financial rewards.
In 2013, the total was 335,000 – up from 268,000 in 2012 and more than double the number of people who left their jobs in 2008, when 146,000 people quit their posts, reported Get India News.
The biggest surge in quits came in March 2013, when 122,000 people left their jobs – up from just 71,500 in February that year. The figures suggest workers are increasingly confident about finding new work.
The data maintained by the US labor department shows that more than 34 million American workers quit their jobs in the year 2021, but the phenomenon seems to have picked up speed in April 2021.
The number of people quitting their jobs in the US has shot up. In September 2021, 4.4 million Americans quit their jobs, up from 4.3 million in August and a five-year high, according to data maintained by the US labor department. The interesting thing is, during the same period, the cryptocurrency market became bullish.
The data shows that recent months have seen an uptick in voluntary separations and quits. While a jump in this metric is often taken as a positive sign for the economy and job market, it’s not necessarily good news for everyone.
American workers – Why are people in the US quitting employment
The common perception of the American worker is that they are loyal and rarely leave their job unless they have to – so why all the movement now?
One likely reason is that the US economy is growing fast but job growth isn’t keeping up with it. In other words, there are more opportunities out there than workers to fill them – a large number of companies are hiring but not finding enough qualified candidates to fill positions.
The survey results show that there are many people who are considering leaving their jobs, especially if they are not offered some form of flexibility on where and when they work. The findings come just as the U.S. economy has begun to recover from the effects of the pandemic of 2021.
The main reason according to the respondents in the survey was that they did not have enough work – or work at all – to offer their employees any extra benefits if they were given some flexibility. It becomes evident from the findings that this is an issue that may lead America back into another recession if not handled properly.
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