Smarter News Now
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting
No Result
View All Result
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
No Result
View All Result
Smarter News Now
No Result
View All Result
Home Investing News

The ‘Great Resignation’ worked: Most job-swappers got a raise

by
July 31, 2022
in Investing News
0
The ‘Great Resignation’ worked: Most job-swappers got a raise
0
SHARES
8
VIEWS
Share on FacebookShare on Twitter

FOR THE MAJORITY of people who quit their job in search of higher pay elsewhere, the wager paid off.

Even as inflation soared, 60% of those who quit between April 2021 and March 2022 realized real wage gains, according to a new report by the Pew Research Center. Less than half of workers who remained loyal to their employers can say the same.

The so-called Great Resignation has brought massive upheaval in the labor market, with quit rates at highs possibly not seen since the 1970s. An average of 4 million workers quit each month from January to March this year, for an annual turnover rate of nearly 50 million workers — about 30% of the workforce — according to Pew’s analysis, which assumes workers don’t change jobs more than once a year.

The report analyzed data from the US Census Bureau, Bureau of Labor Statistics and a survey of about 6,000 American adults conducted in June and July of this year.

As employers have struggled to cope with chronic staffing shortages brought on by rapid turnover, most workers who quit did not immediately jump into a new job. For those who quit this year from January to March, two-thirds were not with a new employer the following month. Instead, almost half left the labor force, while another 18% remained unemployed.

Women who quit were more likely than men to take a break from the labor force, according to the research. Men with children were the least likely to do the same.

The window of opportunity for potential job-switchers may be closing. With fears of recession mounting, many considering a change may stay put for fear that a new, higher-paying gig may be more difficult to get. According to the report, about 20% of workers say they’re likely to look for a new job in the next six months, though nearly 40% say they think landing one will be difficult.

Those with the least sense of stability are more inclined to move, according to Pew, with 45% of those with little job security likely to look for work elsewhere, relative to just 14% of workers who feel most secure. Almost 30% of workers who are financially insecure are likely to consider a change, nearly twice as many who are financially stable. — Bloomberg

ShareTweetPin

Related Posts

Stocks decline on profit taking, recession fears
Investing News

Stocks decline on profit taking, recession fears

August 23, 2022
Peso climbs vs dollar as RTB offer starts
Investing News

Peso climbs vs dollar as RTB offer starts

August 23, 2022
PNR cancels bids for 3 projects after finding them ‘non-feasible’
Investing News

PNR cancels bids for 3 projects after finding them ‘non-feasible’

August 23, 2022
Senate grills Rodriguez on approval procedures for sugar import order
Investing News

Senate grills Rodriguez on approval procedures for sugar import order

August 23, 2022
Trade dep’t expecting sugar price monitoring report by Friday
Investing News

Trade dep’t expecting sugar price monitoring report by Friday

August 23, 2022
Fisherfolk seek halt to reclamation on municipal fisheries
Investing News

Fisherfolk seek halt to reclamation on municipal fisheries

August 23, 2022
Next Post
China air force, referring to Taiwan, vows to safeguard its ‘territorial integrity’

China air force, referring to Taiwan, vows to safeguard its ‘territorial integrity’

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Email Address *
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
 

Recommended

Bill offering incentives for hiring seniors filed

Bill offering incentives for hiring seniors filed

July 28, 2022
Bitcoin History And Presence In The Market With Application

Bitcoin History And Presence In The Market With Application

June 9, 2022
Bavarian Nordic monkeypox vaccine wins EU approval

Bavarian Nordic monkeypox vaccine wins EU approval

July 25, 2022
Global nuclear arsenal to grow for first time since Cold War — think-tank

Global nuclear arsenal to grow for first time since Cold War — think-tank

June 13, 2022
Filipino cockfighters who went missing show pitfalls of getting hooked

Filipino cockfighters who went missing show pitfalls of getting hooked

July 10, 2022
After lockdown, Shanghai tries to mend fences with foreign firms

After lockdown, Shanghai tries to mend fences with foreign firms

June 9, 2022
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting

Copyright © 2022 SmarterNewsNow.
All Rights Reserved.

Disclaimer: SmarterNewsNow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

No Result
View All Result
  • About Us
  • Contact Us
  • Email Whitelisting
  • Home
  • Privacy Policy
  • Terms & Conditions
  • Thank You

Copyright © 2020 SmarterNewsNow. All Rights Reserved.